Multiple choice

Changes in consumer fashion is an example of

  1. Static Risk

  2. Insurable Risk

  3. Dynamic Risk

  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

It is a dynamic risk, as changes in consumer fashion are due to change in economy. It is a result of misallocation of resources. They are a source of gain to society in the long run and cannot be predicted and do not tend to occur regularly.