New 55% Off on All Courses - Enroll Now! Click Here

    Question

    An environment where insurance is plentiful and sold at

    a lower cost, also known as a Buyer’s market is called?
    A Hard Market Correct Answer Incorrect Answer
    B Soft Market Correct Answer Incorrect Answer
    C Alternative Market Correct Answer Incorrect Answer
    D None of the Above Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    A soft market is a market that has more potential sellers than buyers. A soft market can describe an entire industry, such as the retail market, or a specific asset, such as lumber. This is often referred to as a buyer's market, as the purchasers hold much of the power in negotiations.

    Practice Next