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What does risk mean in business?

Answer and explanation

Correct answer: Chance of loss or uncertain result

Business risk is the possibility that actual results may differ from expected results, including the possibility of loss. Demand, prices, costs, competition, and other conditions can change, so profit is not guaranteed. Therefore, fixed profit, avoiding effort, or not speaking to customers is not the meaning of risk.

Related tags

RiskBusinessEntrepreneurshipBusiness RiskTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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