Business A-Level
risk and uncertainty
What risk and uncertainty means in Business A-Level, as defined for AQA.
Definition of risk and uncertainty
Check what you remember
Read the wording for your board, then hide it and explain risk and uncertainty in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Probabilities are estimates, usually drawn from past data that a changed market has already made stale, and the method is risk neutral.
Topics that use risk and uncertainty
- Understanding management decision making (AQA A-Level)
Related terms
- business ethics
- decision trees
- expected value and net gain
- external environment
- mission and objectives
- opportunity cost
- resource constraints
Using risk and uncertainty in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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