From the standpoint of the economy as a whole, the role of insurance is to greatly reduce or eliminate the risks inherent in life.

Name: From the standpoint of the economy as a whole, the role of insurance is to greatly reduce or eliminate the risks inherent in life.
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Quizplus · Accepted Answer

Insurance does not eliminate risks; it transfers the financial burden of risks from individuals to insurers, providing financial protection against specific losses.

From the Standpoint of the Economy as a Whole, the Role