week 5 part 2

Respond to each question with one paragraph

Question 1

Describe the principle of utmost good faith. Why is this higher standard applied to insurance contracts? What are some of the implications of this principle?

Question 2

Describe four requisites of insurable risks for the insurer and two requisites of insurable risks for the insured. What do you think is the most important aspect a person should consider before purchasing insurance?

Question 3

Suppose a job analyst only collected information on the ways jobs related to each other (that is, the horizontal and vertical relationships among jobs were identified). Would this data be useful in conducting a job evaluation? Why or why not?

Question 4

The global business environment has intensified pressure for companies to utilize their resources in new ways. One technique is the use of group decision making. Conduct research to identify one or two group decision making techniques. Do you feel these are effective techniques? Why or why not? Share thoughts about what your classmates present.

Question 5

Do some research on the Great Depression and the New Deal. Also look up Keynesian economics. Based on your research, could the lessons learned from the New Deal and Keynesian economics be applied to today's slow economy? What was the New Deal? What is Keynesian economics?