In two commodity worlds if one good is inferior then the other must be
If a good is inferior, then the consumer buys more of it when their income decreases, and less when their income increases.
Let's think about the scenario given. The consumer has two goods available, and when their income decreases, they buy more of both goods. How is this possible? The consumer's budget set has shrunk, so the total value of what they buy must go down, but we're predicting that consumption of each good goes up. We therefore must conclude that it is impossible for both goods to be inferior.
Policy that can be cancelled or have the premium s raised by the insurer on a specific anniversary date, subject to certain reasons written into the pol...
The insurance in which risks are shared between multiple insurers is known as?
Which term referring to property coverage for the perils of burglary, theft and robbery?
An insurance cover that is linked with credit activities and aims to protect the credit is called?
Which type of policy is offered by an insurer for covering jewellery?
Insurance that pays claims arising out of incidents that occur during the policy term, even if they are filed many years later is known as?
What does ‘Paid Up’ policy means in insurance?
Shagun gift is an insurance policy. It has been launched by_________.
In relation to insurance sector, what is the full form of FPR?
Surf Excel, which is a 110+ year-old global brand, is a subsidiary of which company?