Examlex

Solved

What Are the Three Basic Methods of Dealing with Risk

question 37

Essay

What are the three basic methods of dealing with risk in the risk management process?


Definitions:

Medium Of Exchange

An intermediary instrument, such as money, used to facilitate buying and selling goods and services.

Money

A medium of exchange that facilitates trade, serves as a unit of account, a store of value, and sometimes, a standard of deferred payment.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type.

Legal Tender

U.S. currency that constitutes a valid and legal offer of payment of debt.

Related Questions