ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A person who spots an opportunity to provide goods or services to customers in order to make a profit
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The process/activities by which new businesses are formed in order to offer products and services in a market
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This is the possibility that the business will have a lower than expected profit or a loss
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Check it satisfies a customer need = market research
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Detailed explanation-1: -Business risk is the possibilities a company will have lower than anticipated profits or experience a loss rather than taking a profit. Business risk is influenced by numerous factors, including sales volume, per-unit price, input costs, competition, and the overall economic climate and government regulations.
Detailed explanation-2: -A risk, in a business context, is anything that threatens an organization’s ability to generate profits at its target levels; in the long term, risks can threaten an organization’s sustainability.
Detailed explanation-3: -: possibility of loss or injury : peril. : someone or something that creates or suggests a hazard. 3. : the chance of loss or the perils to the subject matter of an insurance contract. also : the degree of probability of such loss.
Detailed explanation-4: -Business risk is defined as the possibility of occurrence of any unfavourable event that has the potential to minimise gains and maximise loss of a business.
Detailed explanation-5: -Risk is any uncertainty with respect to your investments that has the potential to negatively impact your financial welfare. For example, your investment value might rise or fall because of market conditions (market risk).