14.1 Overview of Risk Management

Categorize

Options (6)

Auto repair

Legal costs

Medical expenses

Unable to work

Anxiety/fear of driving

Inability to complete daily activities

What unexpected economic and non-economic issues may result from a traffic accident?

Economic

Non-economic

Categorize

Options (8)

Stocks

Illness

Death

Tornado

Gambling

Earthquake

Cryptocurrency

Theft

Match the following risks to the correct category:

Pure

Speculative

Match

Match the ways to deal with risk with their definitions:

• Avoid

• Transfer

• Insure

• Assume

Choose not to complete risky activity

Find another business to complete

Purchase insurance to pay for losses

Complete activity with responsibility

• Choose not to complete risky activity

• Find another business to complete

• Purchase insurance to pay for losses

• Complete activity with responsibility