Answered: S left a skillet of hot oil on the…

S left a skillet of hot oil on the stove, which torched the kitchen cabinets. In insurance, the fire is an example of: a. peril b. risk c. liability d. abandonment

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter8: Market Failure

Section: Chapter Questions

Problem 8P

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S left a skillet of hot oil on the stove, which torched the kitchen cabinets. In insurance, the fire is an example of:

a. peril

b. risk

c. liability

d. abandonment

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