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Author Question: An example of an activity that is likely to generate benefit (positive) externality is A) a well ... (Read 27 times)

panfilo

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on: Jul 1, 2018
An example of an activity that is likely to generate benefit (positive) externality is
 
  A) a well manicured lawn of your neighbor.
  B) growing wild flowers on city street islands.
  C) fireworks on the 4th of July.
  D) an educated workforce.
  E) All of the above

Question 2

Explain why risk can be insured against but uncertainty cannot.
 
  What will be an ideal response?


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ladyjames123

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Reply #1 on: Jul 1, 2018
Answer to Question 1

E

Answer to Question 2

The provider of insurance policies can assign probabilities to the occurrences of insurable events and calculate premium rates to charge. With uncertainty, no probabilities can be attached to such events and it isn't possible to construct the appropriate premium rates.


panfilo

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

peter

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Reply 3 on: Yesterday
Wow, this really help

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