ex. loosing your money playing the lotory.
Economic risk- A type of risk that results in financial loss
e. loosing stock.
Non-Economic Risk- A type of risk that may result in the embarrassment or inconvenience without financial impact.
ex. getting money stole from you.
Pure risk- A type of risk that is a threat of a loss without an opportunity for gain.
ex. getting into a wreck.
Speculative risk- A type of risk that offers the chance to experience gain or loss.
ex. Getting car insurance.
Controllable Risk- A type of risk that occurs when conditions can be controlled to lessen the chance of harm.
ex. betting on something that you know will come threw.
Uncontrollable Risk- A type of risk that cannot be controlled or reduced by actions.
ex. betting on the weather.
Insurable Risk- A type of risk that meets the criteria of an insurance company for coverage.
ex. Wrecking your car.
Uninsurable Risk- A type of risk that the possible amount of loss is simply upredictable.
ex. Giving someone money to borrow and seeing if they pay you back.