________ Is the Transfer of Risk from One Entity (An

question 108

Multiple Choice

________ is the transfer of risk from one entity (an individual,a group,or a business) to an insurance company

• A)Risk Management
• B)Trust
• C)Pension and annuities
• D)Insurance

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Definitions:

Cakes

Baked desserts that are usually sweet, made from ingredients such as flour, sugar, and eggs.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm operates on a larger scale due to inefficiencies that arise.

Long-Run Average Cost

The per-unit cost of production in the long run, where all inputs are variable and economies of scale have been reached.

Marginal Cost

The cost incurred in producing one additional unit of a product or service.