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1. What functions are carried out by insurance companies? Given these functions, how do insurance companies contribute to the development of a country's economy? Give as detailed an explanation as possible. (Groups 1 and 2)

1. What functions are carried out by insurance companies? Given these functions, how do insurance companies contribute to the development of a country's economy? Give as detailed an explanation as possible. (Groups 1 and 2)

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please answer questions 1 and 2

 

 

12:58 1. What functions are carried out by insurance companies? Given these functions, how do insurance companies contribute to the development of a country's economy? Give as detailed an explanation as possible. (Groups 1 and 2) 2. Identify the functions of commercial banks. Given these functions, how do commercial banks contribute to the development of the economy of the Eastern Caribbean? (Groups 3 and 4) 3. Discuss why Governments issue securities. Identify a bond (giving the issue amount; the maturity and the coupon rate) that a selected government can issue to carry out a specific project. How will the project contribute to the economy?(Groups 5 and 6) II
Transcribed Image Text:12:58 1. What functions are carried out by insurance companies? Given these functions, how do insurance companies contribute to the development of a country's economy? Give as detailed an explanation as possible. (Groups 1 and 2) 2. Identify the functions of commercial banks. Given these functions, how do commercial banks contribute to the development of the economy of the Eastern Caribbean? (Groups 3 and 4) 3. Discuss why Governments issue securities. Identify a bond (giving the issue amount; the maturity and the coupon rate) that a selected government can issue to carry out a specific project. How will the project contribute to the economy?(Groups 5 and 6) II
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1. Companies that provide risk management in the form of insurance contracts make up the insurance sector. The basic premise of insurance is that one party, the insurer, will guarantee payment in the event of an unforeseen future occurrence. Meanwhile, another party, the insured or policyholder, pays the insurer a lower premium in exchange for protection against an uncertain future occurrence.

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