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into what classification can risk be place
Risks can be classified in many forms. Fundamental vs Particular Fundamental risk is a type of risk that affect a large number of people in an economy. Earthquake and war are the examples of those. [ If it is originated from nature of society, namely act of war and unemployment risk, then it is not insurable. Meanwhile, fundamental risks as a result of physical or natural causes may be insurable. On the other hand, particular risk is a risk that affect only individual. For instance, fire, robberies and thefts. These risks are all insurable. Dynamic vs Static Risks can also be classified
by dynamic and static. Dynamic risk occurs due to changes in economy that causes financial loss to certain people. It exists as a result of adjustment to misallocation of resources in the economy. In modern times, one of the clearer examples is the rapid change in information technology industry. Many companies were made victims while others were emerged as new successes. Static risk, on the other hand, happen even though there are no changes taking place. During market boom or collapse, there are people making losses. These types of losses are due to natural perils like earthquakes, typhoon or moral hazards like cheats. Static risk brings no benefits to the society, only pure losses. Pure vs Speculative Risks can also be categorized as pure or speculative. In pure risk, there is either a possible loss or no loss. In contrast, there are possibilities of gain or loss in speculative risk. Article Source: ]
Expert answered|selymi|Points 9986|
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Asked 1/29/2013 9:21:02 AM
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