Vocabulary (One Hen)

Front

What is the term for the chance of loss or harm?

Back

Risk

Front

What do we call the payments received for work done?

Back

Wages

Front

What is the term for money set aside for future use?

Back

Savings

Front

What is a potential negative outcome that a business may face when taking a risk?

Back

Not making a profit

Front

What is the importance of savings in financial planning?

Back

Savings are important to meet future needs.

Front

What is the difference between risk and profit in a business context?

Back

Risk refers to the chance of loss, while profit refers to the financial gain.

Front

What are the two main types of income individuals can earn?

Back

Wages and investments.

Front

How can savings contribute to financial security?

Back

Savings provide a safety net for unexpected expenses and future needs.

Front

What is the relationship between risk and reward in business?

Back

Higher risks can lead to higher rewards, but also greater potential losses.

Front

What is a common strategy for managing financial risk?

Back

Diversification of investments.