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A famous political scientist once wrote that "the political parties created democracy and modern democracy is unthinkable save in terms of parties." Using what you have learned in this chapter explain what he meant and explain whether you agree or disagree and why.
Entrepreneurs
Individuals who start, organize, and manage new business ventures, taking on financial risks in the hope of profit.
Earthquake Insurance
A type of property insurance that covers damage to a building and its contents caused by seismic activities.
Tolerance for Risk
The degree to which an individual or organization can withstand risk, particularly in investment, without experiencing adverse effects.
Risk Management
The process of identifying, assessing, and prioritizing risks followed by the application of resources to minimize, monitor, and control the probability or impact of undesirable events.
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