The demand for insurance arises from people who are:

Name: The demand for insurance arises from people who are:
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Question

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People who are risk-averse are more likely to seek insurance as a means of protecting themselves against potential losses. Risk-seeking individuals are more inclined to take on risk rather than purchasing insurance to protect against it, while risk-neutral individuals would make decisions based solely on expected values and would not be motivated solely by the idea of avoiding risk.

The Demand for Insurance Arises from People Who Are