If You Choose to Take Responsibility for Negative Results of a Risk,you

question 106

Multiple Choice

If you choose to take responsibility for negative results of a risk,you are using

• A) Risk avoidance.
• B) Risk reduction.
• C) Risk assumption.
• D) Risk shifting.
• E) Risk increasing.

Understand the concept and importance of continuous practice in entrepreneurial skills development.

Identify various types of entrepreneurship and the significance of family enterprises.

Recognize the broad impact of entrepreneurs on society.

Define entrepreneurship and appreciate its multifaceted nature.

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Definitions:

Exclusive Right

A legal provision giving the holder the sole permission to produce, use, or sell a particular commodity or concept.

Cement

A binding agent used in construction that sets, hardens, and adheres to other materials, commonly used to bind sand and gravel in concrete.

Downward Sloping

A term typically used to describe a demand curve that shows the inverse relationship between the price of a product and the quantity demanded.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.