In each of the following situations, describe briefly how one can make use of financial markets and transfers to help offset the negative consequences of an economic shock. 

a. A college student needs to repeat a class, leading to a one-time increase in his tuition expenses.

b. A small business owner in Los Angeles faces a reduction in sales and damage to her property as the result of an earthquake.

c. Bangladesh experiences widespread physical damage and job loss resulting from a monsoon.