List the Five Assessments Involved in Creating a Vulnerability Assessment

question 3

Essay

List the five assessments involved in creating a vulnerability assessment.

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Definitions:

Economic Theories

A set of principles that explain how economies function, including the distribution of resources, and the production and consumption of goods and services.

Abstractions

The process of extracting the underlying essence or general principles of a concept, situation, or phenomenon, often by neglecting concrete details.

Physical Sciences

Branches of science that study inanimate natural objects, including astronomy, chemistry, physics, and earth sciences.

Other-Things-Constant Assumption

The assumption, when focusing on the relation among key economic variables, that other variables remain unchanged; in Latin, ceteris paribus.