The reason for risk pooling which is beneficial for the insurance industry is best described as it brings together many individuals' premiums so that there is money to cover a selected few losses.
Option B is the correct answer.
<h3>Who is a policyholder?</h3>
The policyholder is an individual who takes an insurance policy from an insurance company. He pays insurance premiums against their respective policies.
The insurance contract is an agreement between the individuals and insurance company to indemnify them at the happening of the specified event and individuals also agreed to pay the insurance premiums on time. The risk pooling allows the insurance company to get insured many people against a small amount of money called an insurance premium.
Therefore, risk pooling is valuable for the insurance company in respect of the insurance policies.
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A. Pure competition
Pure competition describes a market with a wide range of competing businesses all selling the same product, in this case milk.
Monopolies are a single company running the market, and oligopoly markets have a small number of players who together control the vast majority.
Answer: a)
Explanation: All the others are deductible, whilst excise taxes are only deductible as a business expense.
Answer:
see below
Explanation:
Operating expenses are the cost a business incurs while engaging in its normal business operations. They are the costs not directly be attached to the production process. A business incurs operating expenses in managing it day to day activities. They exclude one time expenses such as judgment cost, accounts adjustments, and other non-recurring costs.
Operating expenses are classified into administrative, selling, and general expenses. Businesses cannot avoid operating expenses; hence the management should strive to keep them as low as possible. Examples of operating expenses include rent, salaries, employee benefits, transport, depreciation, repairs, taxes, sales commissions, amortization, and pension contributions.
Answer:
fall
rise
frictional
b. Improving a widely used job-search website so that it matches workers to job vacancies more effectively
Explanation:
A fall in the price of steel would reduce the profitability of producing steel for steel producing companies. Hence, the supply of steel would fall. as a result, less labour would be needed, so the demand for labour would fall.
A fall in the price of steel would reduce the cost of producing cars and thus increase the production of cars. as a result, more labour would be employed to make cars.
Frictional unemployment is when labour is unemployed between the time he leaves his current employment and time he finds another. by improving on the job search website, workers would be matched faster with available jobs, this frictional unemployment would decrease.
