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Entrepreneurship as Innovation and Problem Solving — Entrepreneurship STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEntrepreneurshipEntrepreneurship as Innovation and Problem Solving1 Mark
Question
Define and explain business risk.
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Answer

BO Wheeler defines business risk as, “Risk is the chance of loss. It is the possibility of some adverse occurrence”. There is always a possibility of loss in business, even though a businessman may not be aware of it. This possibility of loss is termed as business risk.

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