Risk is the possibility of not getting expected result of something. So there is risk for everything. So without getting risk you can do nothing. But there are some ways to reduce the risk.
01. Take the risk.
This is most suitable for the people who love risk. This is the option with highest risk.
02. Manage risk
In this, risk taker calculate the possible risk and find ways to reduce that risk. When you managing your risk, you should have to measure possible risk in the future.
03. Shifting risk
This option is the way that mostly use in currently. By shifting your risk, you shift your risk to another party like 'Insurance Company'. Than if the risk is happened the other party will take that risk for you. But there is some cost. So before shifting that risk you should know that risk is more worth than the cost.
04.Avoid risk
Like I mentioned before there is nothing without risk. But there is only one way to fully avoid the risk. That is not doing the thing that give you the risk. That is the only way.
So, those are ways of handling the risk. As mentioned in the equation don't ever risk more than you can handle unless that risk is more worth than that. Because that risk could give you opportunities that you cannot ever get in your life. But you can mange that risk.
So, what is your opinion? What is the best way of handling the risk? <span />
Answer:
- <u><em>Option b. significant positive externalities.</em></u>
Explanation:
<em>Externality </em>is a concept used in economics.
<em>Externalities</em> are consequences of an economic activity that fall on a third party that does not directly participate in it; this is a person who is either the consumer or the producer of the good or service.
The impact of the <em>externality</em> on the third party may be beneficial or adverse. A beneficial externality is a positive externality; an adverse externality is a negative externality.
In the health care system the consumers are the patients and the producers are the physicians, nurses, hospitals, are related ones.
But many others have interest in the health care system: government, insurers, and persons who are not directly patients.
Two examples of important sources of externalities that I found in the internet are the vaccination and the research.
Regarding vaccination, the person who is vaccinated is not the only one who receives the benefit: the neighbors, the fellow workers, the community and the entire society are benefited by you and everyone who is vaccinated. This is a<em> positive externality</em>.
Regarding medical research, the benefit of a laboratory finding a new drug to cure a disease affects positively others.
When a lender charges interest, it is known as: A. Annual Percentage Rate (APR) The annual percentage rate is the rate of interest lenders such as credit card companies use when charging interest on borrowed funds from their users. The annual percentage rate is divided by the 12 months in the year and then charged each month on the finances that are not paid off.
Explanation:
Every business, school, or institution must have a disaster recovery plan in place so that business progresses in a structured and preventive manner for any unexpected incident and disaster situation.
The disaster recovery plan is a long-term planning document to provide instructions and guidance to an incident or disaster institution. Guidance and policies on how to proceed at the time of the disaster and after the disaster should be considered in the document, which will be relevant to direct the operation and continuation of business activities after the disaster has occurred.
In order to be effective and help the company survive in the event of a major disaster, the disaster recovery plan must be constantly tested, with sufficient information and the use of compatible technology so that incidents do not impair the business functioning.