Across
- 2. It is a situation where a single seller can manipulate pricing.
- 4. These refer to the threats that an organization may face such as financial uncertainties, legal liabilities, accidents and natural disasters.
- 7. Risk _________; this is a step in the risk management process where the risk scenarios that could have a positive or negative impact on the organization's ability to conduct business are defined.
- 8. This is a characteristic of public goods. Once something like a street light is produced, it is accessible to everyone and the producer cannot limit consumption only to paying customers.
- 10. these occur when the consumption of a good or service benefits or harms a third party.
Down
- 1. Risk _________; In this step on the risk management process, we ask the questions "Are the controls working as intended? Can they be improved?"
- 3. _________ risk refers to threats to the company such as natural disasters, damaged machineries or facilities, and IT security and privacy.
- 5. Government ________ occurs when the government intervenes to correct a market failure but ends up causing a net loss of economic welfare. In other words, the costs of the intervention are greater than the benefits provided by it.
- 6. It is the act of giving a certain individual or party the authority to make decisions on a task. Lacking this will lead to government failure.
- 9. The imposition of _____ may be effective in solving market failures.