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1) Explain the four ways of managing risk Explain the difference between speculative risk and pure risk

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1) Explain the four ways of managing risk

2. Explain the difference between speculative risk and pure risk. Which type of risk is of more concern to businesspeople?
3. Explain what makes the acceptance of risk possible for insurance companies.
4. Explain the benefits of workers' compensation. Who is required to carry this type of insurance?