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14.2 Insurance and imperfect information  (Page 24/33)

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  • Card 24 / 33:
    adverse selection

    when groups with inherently higher risks than the average person seek out insurance, thus straining the insurance system

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Practice FlashCards 13 Key Terms 10

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Source:  OpenStax, University of houston downtown: microeconomics. OpenStax CNX. May 28, 2014 Download for free at http://legacy.cnx.org/content/col11651/1.2
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