Business Studies, asked by ujjalsharma039, 5 months ago

what do you mean by risk and uncertainty?

Answers

Answered by bats1920

Answer:

Risk refers to decision-making situations under which all potential outcomes and their likelihood of occurrences are known to the decision-maker, and uncertainty refers to situations under which either the outcomes and/or their probabilities of occurrences are unknown to the decision-maker.

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