Answer:
b. It refers to the actions people take after they have entered into a transaction that makes the other party to the transaction worse off.
Explanation:
Moral hazard -
It occurs when the person increases their exposure to risk in the case , when the other person bears the cost of the risks .
It can occur when the action of one of the party changes due to the detriment of the other after the financial transaction is done .
hence ,
The correct answer for Moral Hazard is ( b ) .
The duties that Alan performed was farming work and cooking meals.
Answer:
psychosocial development
Explanation:
Erik Erikson has given the theory of psychosocial development in which he has mentioned eight different stages from infancy or birth of the child to adulthood.
According to Erikson, in each of the stages an individual experiences a particular psychosocial crisis that can often have a negative or positive outcome or result for his or her personality development.
Psychosocial development came into existence after Erikson has criticized Sigmund Freud's psychosexual developmental stage because he believes that a child grows differently throughout the life irrespective of the five stages that Freud has to give. A psychosocial development includes the interaction between psychological development or the social environment.
