He would be described as “A sensation seeker”
Answer: Adverse selection
Explanation: In simple words, adverse selection refers to an insurance problem in which the buyer and seller of the insurance do not have same information. This occurs when the buyer deliberately hide some material facts from the insurance company.
In the given case, The company is charging more from new customers because they have perception that they take their services only when it is highly probable they have to use that.
Hence from the above we can conclude that the correct option is B.
The price will rise because the manufacturer a cannot meet the demand so it will be harder to get the product
41/5 is actually 8.2. So to find how much tax there is you multiply .082 times 63.78. The tax is $5.22. But to get all of it, you have to add it to the original. 5.23+63.78=69.00. So the tax is $5.23, but the cost with tax is $69.
Answer:
The given system of payment is Piece-rate system.
Explanation:
Piece rate system is the one in which employee is paid according to the per creation he does. Worker is paid by each output he produces irrespective oft he time. This output can be that of a clay pot or a piece of writing.
Oliver pays his workers according to the output they produce. If they produce more than 25 watches, he gives them additional money.
This system is beneficial for both workers and employers. Employers may come up with attractive schemes to pay to employees and they motivated to work more.
