Chapter 1 Vocab - themselves from a major financial loss...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 Vocab Average (p4): The usual or ordinary amount of something. Specifically, the sum of a group of values divided by the number of values used. Catastrophe (p2): Disaster, calamity. Cause (p5): Whatever makes something happen. Chance (p4): The likelihood of an event. For example, if the chance of an event is 1 percent, then the event will occur one time in 100 tries. Cyclic Events (p5): Events that come at evenly spaced times, such as every so many hours or years. Developed Countries (p8): Industrial countries that are wealthy and have a large middle class. Disaster (p2): Catastrophe, calamity. Fractal (p6): Features that look basically the same regardless of size; for example, the coast of Norway looks serrated on the scale of a map of the world or on a map of only part of that coast. Hazard (p2): An environment that could lead to a disaster if it affects people. Insurance (p7): A service by which people pay a premium, usually annual, to protect
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: themselves from a major financial loss they cannot afford. The insurance company that collects the premium pays for covered losses. Mitigation (p8): Changes in an environment to minimize loss from a disaster. Overlap (p6): Cyclic events can overlap to amplify the damage in a disaster. Plate tectonics (p5): The theory that lithosphere plates that move relative to one another collide in some places, pull apart in others, and slide past one another in still others. These movements cause earthquakes and volcanic eruptions as well as build mountain ranges. The theory is supported by a wide range of data. Risk (p6): The chance of an event multiplied by the cost of a loss from such an event. Underdeveloped countries (p8): Poor countries with a large proportion of the population living in poverty and small proportions of both middle class and wealthy....
View Full Document

This note was uploaded on 04/16/2008 for the course ISP 203B taught by Professor Mackey during the Spring '07 term at Michigan State University.

Ask a homework question - tutors are online