Question
Goods for which demand increases as their price rises
are known as:ÂSolution
Giffen goods are a special type of inferior good for which demand increases as the price rises, due to the fact that these goods make up a large portion of a consumer's budget and the income effect outweighs the substitution effect.
Insurance is, thus, a financial tool specially created to reduce the financial impact of unforeseen events and to create______.
Which of the following is specifically intended for the protection of low -income people, with affordable insurance products to help them cope with and ...
Which of the following is NOT a peril covered under the Standard Fire and Special Perils Policy?
Intangible assets cover non-physical assets that cover ________________.
The principle ensuring an insured is not compensated more than the actual loss is:
The 'Third-Party Liability' cover in a motor insurance policy is mandatory in India as per the:
The insurance companies collect a fixed amount from its customers at a fixed interval of time. What is it called?
Oriental Insurance Company Ltd. was a subsidiary of Life Insurance Corporation of India from 1956 to_______.
IRDAI has the power to frame regulations under which of the following Section of the Insurance Act, 1938?
The principle of utmost good faith requires:
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