Professional Documents
Culture Documents
(Chapter 1-Vaughan)
of tools
Banding
Saving
Invention of Money
Money - Credit
OTHER COMMERCIAL
INNOVATIONS
3000
BC
1800 BC - CODE OF
HAMMURABI
contracts.
respondentia contracts.
11
environmental damage,
discrimination in employment,
sexual harassment, and
violence in the workplace.
15
computer fraud
16
Nuclear Hazards
17
Terrorism
Bombing
18
Perils of Nature
21
22
1.
Indeterminancy - at least two
possible outcomes
2.
Adversity - at least one of the
outcomes is undesirable
23
Uncertainty and
its Relationship to Risk
1.
2.
Varies with the probability of
deviation
from what is expected in case of aggregate
data
Peril:
27
Classifications of Hazards
- probability of loss
Physical peril of fire due to low grade of materials used in
constructing the building
Moral/criminal
entitlement
Morale
Legal
28
Classifications of Risk
29
31
2.
3.
E.g. gambling
32
p16
2. Property risks
sickness/disability, unemployed
3. Liability risks
1.
Avoidance
2.
Reduction
3.
Retention
4.
Transfer
5.
Sharing
35
37
38
39
40
42
44