In addressing a risk that has low potential impact and relatively high cost of mitigation or reduction, which strategy will accept the risk and its consequences?

In addressing a risk that has low potential impact and relatively high cost of mitigation or reduction, which strategy will accept the risk and its consequences?

• risk avoidance
• risk reduction
• risk retention
• risk sharing

Explanation: There are four potential strategies for responding to risks that have been identified:
Risk avoidance – Stop performing the activities that create risk.
Risk reduction – Decrease the risk by taking measures to reduce vulnerability.
Risk sharing – Shift some of the risk to other parties.
Risk retention – Accept the risk and its consequences.

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