To an economist risk is defined as
A) when an outcome may or may not occur and its probability of occurring is unknown.
B) when an outcome may or may not occur, but its probability of occurring is known.
C) a situation where more than one possible choice could be made.
D) a situation when an insurance company has worse information than the person taking out the insurance and thus they face an uncertain outcome.
Correct Answer:
Verified
Q25: Which one of the following is true
Q26: If speculation is stablising, a change in
Q27: Stabilising speculation can be defined as
A) a
Q28: Buyers and sellers are likely to anticipate
Q29: If speculation is destablising, a change in
Q31: To an economist uncertainty is defined as
A)
Q32: You bet £20 on the roll of
Q33: When the probability of an outcome is
Q34: Uncertainly can be reduced by
A)
Q35: A forward market allows traders to
A) make
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