The greater the risk associated with a particular outcome, the_______ likely they will purchase insurance, and the_______ money they are willing to pay for the insurance.

Question

Quizplus · Accepted Answer

Generally, as the perceived risk of a particular outcome increases, individuals are more likely to purchase insurance to protect against that risk, and they are also willing to pay more for that insurance coverage to mitigate the potential financial impact.

The Greater the Risk Associated with a Particular Outcome, The_______