|
|
INSURANCE: Transferring risk to others. The need for insurance occurs because people tend to be risk averse in many circumstances. As such, most of us are willing to pay for certainty. Those who satisfy this need for insurance, insurance companies for example, do so because they can pool risk. If insurance companies know the chance of some loss (an accident, illness, or whatever) and its cost, then they can divide this cost among a large group of risk averse types. The insurance company agrees to pay the cost of the loss and each of the risk averse types pay a risk premium, but get the peace of mind that goes with certainty.
Visit the GLOSS*arama
|
|
|
|
|
KEYNESIAN DISEQUILIBRIUM The state of the Keynesian model in which aggregate expenditures are not equal to aggregate production, which results in an imbalance that induces a change in aggregate production. In other words, the opposing forces of aggregate expenditures (the buyers) and aggregate production (the sellers) are out of balance. At the existing level of aggregate production, either the four macroeconomic sectors (household, business, government, and foreign) are unable to purchase all of the production that they seek or producers are unable to sell all of the production that they have.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time at an auction hoping to buy either a really, really exciting, action-filled video game or a coffee cup commemorating the moon landing. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
The average length of a "business lunch" is about 36 minutes.
|
|
|
"When I stand before God at the end of my life, I would hope that I would not have a single bit of talent left, and could say, „I used everything you gave me.¾" -- Erma Bombeck, writer
|
|
BAE
Bureau of Agricultural Economics
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
