Question
As the degree of product differentiation increases among
the products sold in a monopolistically competitive industry, which of the following occurs?Solution
As the degree of product differentiation increases among the products sold in a monopolistically competitive industry, each seller's demand becomes more inelastic. This is because products now no longer have close substitutes so demand becomes more inelastic.
What are the assumptions about rates of investment earnings, mortality, turnover and distribution or actual ages at which employees are likely to retire?
Which one of the following does not belong to the main products of life insurance?
If the total premium is Rs. 50,000 and the Limit of Liability is Rs. 20,000,000; what is the rate on line?
A policy that covers the cost of repairing or replacing a damaged computer system is:
What is the primary characteristic of a "soft market" in insurance?
The 'Own Damage' cover in a motor insurance policy protects the insured against:
A clause that allows the transfer of rights under a policy from one person to another, usually by means of a written document is called?
Which of the following is NOT a typical type of insurance claim?
The Life Insurance Corporation of India (LIC) came into existence in which year?
What is the main role of an insurance underwriter?
