Which Process Involves Prioritizing Risks Based on Their Probability and Impact

question 66

Multiple Choice

 Which process involves prioritizing risks based on their probability and impact of occurrence?

• A) performing qualitative risk analysis
• B) identifying risks
• C) planning risk responses
• D) performing quantitative risk analysis

---

Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.

Surplus

A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.

Shortage

A market condition where the demand for a good exceeds its supply at a specific price, often leading to price increases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.