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2.6.2 Uncertainty and risk

What makes a business decision a risk rather than an uncertainty?

A

A risk has a measurable likelihood, while uncertainty cannot be estimated at all.

B

Using several products means falling demand for one product is less likely to sink the business.

C
  • Insurance premiums reduce available funds.
  • Market research involves fees.
  • Cash reserves cannot be invested elsewhere.
D
  • Changing tastes can leave unwanted stock that must be discounted.
  • New competitors can take customers.
  • Economic change can reduce demand and raise costs.
  • Supplier failure can halt production.

2.6.2 Uncertainty and risk Flashcards

  1. GCSE
  2. /Business
  3. /2.6.2 Uncertainty and risk

Flashcards for AQA GCSE Business 2.6.2 Uncertainty and risk, covering the key terms, formulae and case studies you need to recall for Paper 1 and Paper 2. 24 cards, matched to the AQA GCSE Business (8132) specification. Recall questions account for roughly 35% of marks at GCSE Business, so these target the marks you can secure before the paper starts.

Flashcards