definition Risk

people express risk in different ways . To some , it' the chance or possibility of loss to others , it's may uncertain situations or deviations or what statisticians call dispersions from the expectations different authors on the subject have defined risk differently however , in mostOf the terminology the term risk includes exposure to adverse situations .The indeterminateness of outcomes is one of the basic criteria to define a risk situation also when the outcomes is indeterminate , there is possibilityThat some of them may be adverse and therefore need special emphasis .Let’s have a look at the popular definitions of risk :According to the dictionary , risk refers to the possibility that something unpleasant or dangerous might happen .Risk is a condition in which where is a possibility...

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TEN PRINCIPLES OF ECONOMICS {part 2} (5-10)

PRINCIPLE #5: TRADE CAN MAKE EVERYONE BETTER OFFYou have probably heard on the news that the Japanese are our competitors in theworld economy. In some ways, this is true, for American and Japanese firms doproduce many of the same goods. Ford and Toyota compete for the same customers in the market for automobiles. Compaq and Toshiba compete for the same customers in the market for personal computers.Yet it is easy to be misled when thinking about competition among countries.Trade between the United States and Japan is not like a sports contest, where one side wins and the other side loses. In fact, the opposite is true: Trade between twocountries can make each country better off.To see why, consider how trade affects your family. When a member of yourfamily looks for a job, he or she competes...

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