_____Involves Determining the Likelihood and Project Impact of a Risk

question 8

Multiple Choice

_____involves determining the likelihood and project impact of a risk.

• A) risk identification
• B) risk assessment
• C) risk planning
• D) risk monitoring and control
• E) risk evaluation

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Definitions:

Investment

Investment entails the allocation of resources, such as capital or time, into a venture with the expectation of generating income or profit over time.

Inflation Rate

The percentage increase in the general price level of goods and services in an economy over a period of time, typically measured annually.

Circular-Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms

GDP

The total worth of all goods and services produced within a country during a given time frame is defined as Gross Domestic Product, reflecting the nation's economic activity.