ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Damage to Assets and Physical Property This is probably the most prominent risk that businesses need to consider. When natural disasters strike, they often do substantial damage to physical assets. Company buildings and property may be damaged, or equipment could also be ruined.

Detailed explanation-2: -What is disaster risk. There is no such thing as a natural disaster, but disasters often follow natural hazards. Disasters are sometimes considered external shocks, but disaster risk results from the complex interaction between development processes that generate conditions of exposure, vulnerability and hazard.

Detailed explanation-3: -A natural hazard is the threat of an event that will likely have a negative impact. A natural disaster is the negative impact following an actual occurrence of natural hazard in the event that it significantly harms a community.

Detailed explanation-4: -A natural disaster is a major adverse event resulting from natural processes of the Earth; examples include floods, hurricanes, tornadoes, volcanic eruptions, earthquakes, tsunamis, and other geologic processes.