3.2 Flashcards
1
Q
Opportunity cost
A
The option you have to go without in a choice between two events
2
Q
Cost benefit analysis
A
Another way of analysing and assessing purchasing decisions
3
Q
Comprehensive insurance
A
Covers loss or damage to your car as well as accidental damage to other peoples property
4
Q
Third party insurance
A
Covers your legal liability for damage to other peoples property caused by a motor vehicle accident that is your fault
