What are partial guarantees?

Partial guarantees are like when you get help from a friend to finish your homework, they promise to help some of it, but not all of it.

Imagine you're building a tower with blocks. You want to make sure it stands tall and doesn’t fall over. But instead of helping you build the whole tower, your friend promises to help you stack half of the blocks. That way, part of the tower is guaranteed to be strong, but maybe the other half might still tip over if you're not careful.

Like a Shared Backpack

Think about it like sharing a backpack on a trip. If your friend says they’ll carry some of the weight, that means they’re giving you a partial guarantee, they won’t let the whole backpack fall on you, but they might still make it heavier than you expected.

This is how partial guarantees work in real life too, someone promises to help with part of a job or a task, so you know some things will go smoothly, but not everything is covered.

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Examples

  1. A parent says, 'I'll pay for half of your college if you work hard,', that's a partial guarantee.
  2. A company promises to refund only part of the price if something goes wrong.
  3. You borrow money and agree to pay back 70% of what you owe, even if you can't pay everything.

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Categories: Science · guarantees· economics· finance