Asked by Annisa Rahma Putri on Jul 03, 2024
Verified
The existence of a large and growing gambling industry clearly shows that many people are risk-loving.
Risk-Loving
A personality trait or behavior of individuals who prefer or seek out risk in their investment choices, with the potential for high returns.
- Gain knowledge of the economic principles driving risk aversion and how they influence insurance market dynamics.
Verified Answer
ZK
Zybrea KnightJul 06, 2024
Final Answer :
False
Explanation :
The existence of a large and growing gambling industry does not necessarily indicate that many people are risk-loving; it can also suggest that people are seeking entertainment, are hopeful for large payouts despite the odds, or are influenced by cognitive biases that distort their perception of risk.
Learning Objectives
- Gain knowledge of the economic principles driving risk aversion and how they influence insurance market dynamics.
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