Answer:
huh
Explanation:
uhhhhh okkkkkkkk thankssss
The procedure that must be carried out when a motorboat <span>is crossing paths with a pwc is that the rules of the road should be implemented to the situation. To add up, a PWC is considered to be a much powerful boat compared to a motorboat and strict road regulations for the sake of safety.</span>
Answer:
1. to help make people equal
2. checks and balances are rules
Answer:
Moral hazard
Explanation:
- Moral hazard is a term used in economics that refers to the fact that one person <u>tends to increase his/her exposure to risks</u> when they are insured. Specially <u>when someone else will bear the cost of those risks.</u>
- The free-rider problem refers to the situation where individuals are able to consume a good without paying for it.
- Government failure is a term used in economics to refer to when the government intervenes in the economy to try to fix a problem but its intervention actually make things worse.
- Adverse selection refers to when buyers and sellers have different information regarding one product and the risks this misinformation leads to.
In the example, we can see that <u>Joe was very careful when he didn't have a renter's insurance</u>. However, now that the situation has changed, <u>he leaves candles burning all day and forgets to lock the door because he knows that even if something happens, someone else will pay for it.</u>
Thus, this example has all the characteristics of a Moral Hazard.
Wondering the same thing! :((
