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Goods differ on the basis of whether their consumption is rival and excludable.Explain the terms "rivalry" and "excludability" as they are used to define goods.List the four categories of goods, and define these categories in terms of rivalry and excludability.
Project Risk
Potential problems that could endanger the success of a project, including uncertainties and potential negative events.
Organizational Risk
Refers to the potential for losses or other adverse outcomes that an organization may face due to various internal and external factors.
Strategic Risk
Involves risks that affect the long-term goals, direction, and overall strategy of an organization.
Contractual Risks
The potential for losses or liabilities arising from the terms and conditions of a contract, including breaches, misinterpretations, and the failure of parties to fulfill their obligations.
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