Risk Involves the Measurement or Assessment of Two Parameters, the Probability

question 1

Multiple Choice

Risk involves the measurement or assessment of two parameters, the probability of an undesirable event occurring and ____.

• A) the frequency of that event
• B) the magnitude of the event's consequences
• C) the duration of the event
• D) the number of people affected by the event

---

Definitions:

Hay Market Rally

An event that took place in 1886 in Chicago, marked by a peaceful rally in support of workers striking for an eight-hour day, which turned violent after a bomb was thrown, leading to several deaths of policemen and civilians.

Knights of Labor

A 19th-century American labor federation that sought to organize all workers, irrespective of skill level, to improve working conditions.

Eight-hour Workday

A labor standard that establishes the maximum number of hours that an employee is expected to work per day, aiming to promote work-life balance.

Labor Union

An organization of workers formed to protect and advance their rights and interests through collective bargaining.