Access Point #: SS.912.FL.6.Su.a


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Identify why most people are willing to pay a small cost now if it means they can avoid a possible larger loss later.
Number: SS.912.FL.6.Su.a Category: Supported
Standard: Protecting and Insuring

Related Benchmarks

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



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