If a company faces competition, its demand at different prices will depend on whether competitors' prices stay constant or change with the company's own prices

All of the following are characteristics of an insurable risk EXCEPT

A) loss must not be catastrophic B) loss must be measurable C) loss must be intentional D) loss must be accidental"

Which of the following is true with regard to an economic union?

A. There are restrictions on immigration, emigration, or cross-border flow of capital among member countries. B. It entails less economic integration and cooperation than a common market. C. It involves the free flow of products and factors of production among member countries. D. It is defined as a central political apparatus that coordinates the economic, social, and foreign policy of the member-states. E. It does not adopt a common external trade policy.