1.1 Risk and uncertainty
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Last updated 1:56 PM on 4/17/25
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4 Terms
1
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Risk
Taking actions where the outcomes are unknown
2
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uncertainty
Factors outside of a businesses control that can have financial consequences
3
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Examples of a risk
Setting up the business, no guarantee of profit
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Examples for uncertainty
- A new competitor may enter the market
- New technologies invented
Note 
Flashcards (39)