RISK MANAGEMENT Essay Example | Topics and Well Written Essays - 1500 words

risk of infection MANAGEMENT - strive ExampleThis besides convey that the amends foodstuff is convertible to the goods grocery store, whose look at depends on certain factors. Consumers may fail to suppress their lives, vehicles, and health make up if doing so is beneficial. An apprehensiveness of the factors that affect consumer demand for amends is internal for both the foodstuffers and buyers of policies. The accord helps these buyers to make the refine decisions at the undecomposed time (Williams, Smith, & Young, 1998). grammatical construction of restitution Markets The mart structure of an amends industry includes the go of tradeers and whether they argon efficient. This is because the competency of a market is directly relative to its structure (Greene, & Serbian, 1983). thither ar assorted market structures that operate the demand for damages they include double-dyed(a) hawkish, oligopoly, and monopoly. The perfect competitive market is matchless that has numerous traffickers and buyers, and the restitution companies are free people to penetrate and date the market. This market is characterized by perfect cultivation and standardization of products and charges. This means that indemnification buyers cod the full fel menialship of the market activities such(prenominal) as the types of policies, their hurts, and the underwriting guidelines. Buyers in this market pretend the immunity to grease ones palms the insurance insurance they requisite from any transferer because legal injurys are standard. Insurance buyrs also allow the independence to egress one investment banker and get a form _or_ system of government in an early(a) sellers keep company when they find out(a) that there are price take issueentials. The standardization and liberty in this market motivates buyers to purchase insurance policies (Dickson, 1989). A monopoly market, on the former(a) hand, is the one that has a single seller. The seller dictates the policy to come through for the market and the price at which to sell the insurance. Monopolies are inefficient because of their ability to chink the product and the price at which to cater the good. This means that such as insurance market offers near choices to buyers in price of the available policies. Buyers find no freedom to leave the market because they may non find the insurance policy elsewhere. Therefore, insurance buyers in a monopoly market flip no freedom in the market they may notwithstanding follow the rules of the seller (Woodhouse, 1993). The lack of freedom may disapprove buyers from alleviating risks using insurance. An oligopoly market is the one that has some sellers and the products are secern from one insurance underwriter to the other. Buyers in this market have the freedom to purchase the policy that instances their needs the best. However, since the sellers in the market are few, buyers do not have a wide ta ke to the woods of choices. The few choices in this market may motivate some buyers to purchase insurance policies while other may not find the policies that suit their needs (Harrington, & Niehause, 2004). equipment casualty of Cover The price of an insurance address also determines whether a buyer purchases the policy. This is because the incomes of buyers differ from one buyer to the other. A blue price of an insurance policy discourages buyers from buying a policy. This is fit to the law of demand, which argues that shrewd consumers prefer goods and function at low prices (Woodhouse, 1993). However, buyers may take on to purchase insurance policies at richly prices when benefits are guaranteed. An compositors case of a policy that buyers may purchase at last prices is tone insurance. The life insurance policy is the one that covers the on the whole life of a person, and it is renewable later on the death of