Economics · Risk and Uncertainty
In economic terms, 'risk' refers to a situation where:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The variability and probabilities of possible outcomes are known✓
- 2The variability of possible outcomes is very low
- 3The variability of possible outcomes remains constant
- 4Possible outcomes cannot be quantified at all
Correct answer
The variability and probabilities of possible outcomes are known
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