Economics B A-Level
Contingency planning
What Contingency planning means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Contingency planning
Check what you remember
Read the wording for your board, then hide it and explain Contingency planning in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
A form of preparation that businesses can use to respond to uncertainty, alongside flexibility and adaptability, as potential impacts and their likelihoods are unknown.
Topics that use Contingency planning
- Risks and uncertainty (Pearson Edexcel A-Level)
Related terms
- Business resilience
- Exchange rate risk
- Financial stability
- Forward contract
- Risk
- Supply-side shocks
- Uncertainty
- Demand-side shocks
Using Contingency planning 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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