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SS.912.FL.6.1

Describe how individuals vary with respect to their willingness to accept risk and why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.
Subject Area: Social Studies
Grade: 912
Strand: Financial Literacy
Date Adopted or Revised: 04/15
Status: State Board Approved

Remarks/Examples

Discuss whether or not a premium paid to insure against an accident that never happens is wasted.