Question
When to accomplish a particular necessity, the Demand of
various goods is increased automatically into the market , it is known as ________________ .Solution
Example of Derived demand, For building a house, the demand of Painter, labour, artisans, Bricks, Cements automatically increases. Cross Demand is the ratio of percentage change in quantity demanded of a product to percentage change in price of a related product. Composite demand happens when goods or services have more than one use so that an increase in the demand for one product leads to a fall in supply of the other. E.g. milk which can be used for cheese, yoghurts, cream, butter and other products . Joint demand occurs when demand for two goods is interdependent. For example, it is no good having a printer without the ink to go with it.
Process of transferring life insurance to another person is called _____ of policy.
What is a typical generic question in an insurance proposal form?
Which of these changes would typically require an endorsement?
The maximum foreign direct investment (FDI) allowed in Indian insurance companies is:
What is the paid up capital of Life Insurance Corporation of India (LIC)?
The Indian insurance industry is governed by which of the following act ?
In case of ambiguity in policy wording, which rule is applied?
Which of the following principles of Insurance enables the insured to claim the amount from the third party responsible for the loss?
What is NOT a common express condition in an insurance policy?
A seller’s market in which insurance is expensive and in short supply is termed as?
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