Types of Risks
I can describe types of risk and explain ways to handle risk
Non-Economic Risk - Having a buggy full of groceries and not having any money on your debit card.
Pure Risk - When frost covers your strawberry patch, you have no choice of gain only loss.
Speculative Risk - Buying a lottery ticket.
Controllable Risk - Choosing to eat healthy or to eat fast food for lunch everyday.
Uncontrollable Risk - An elderly man having a heart attack.
Insurable Risk - Getting in a car accident that your insurance company covers.
Uninsurable RIsk - Recessionary period in an economic cycle