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What is the difference between uncertainty and risk in entrepreneurship?

Answer and explanation

Correct answer: Risk can be estimated to some extent, while uncertainty is unclear

Risk refers to a situation in which possible outcomes and their likelihood can be estimated to some degree using available information. Uncertainty is less measurable because the outcomes or probabilities are not sufficiently known. Neither guarantees profit or eliminates loss, so option A gives the useful distinction for entrepreneurial decision-making.

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RiskUncertaintyBusiness RiskBusinessTrade And CommerceBusiness Trade And CommerceBusiness StudiesClass 11 Mcq

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