Question: Peter Bubba is driving home from a bar when he runs off the road and hits a telephone pole. These are the losses he suffers:

Peter Bubba is driving home from a bar when he runs off the road and hits a telephone pole. These are the losses he suffers: $4,500 to repair the damage to his car; $2,500 damage to the telephone pole and lines; $550 for doctor and medicine costs; and, $300 to rent a car while his car is being repaired. What is the correct name for each of these losses? What is the difference between them? Please give examples of each

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