Final answer:
Loss prevention is a type of loss control activity that aims to reduce expected losses by lowering the frequency or probability of the loss event. Measures like security systems, employee training, and audits can be implemented to achieve this.
Step-by-step explanation:
The subject of this question is Business and the grade level is High School.
Loss prevention is a type of loss control activity that aims to reduce expected losses by lowering the frequency or probability of the loss event. This can be achieved through various measures such as implementing security systems, training employees to follow proper procedures, and conducting regular audits to identify and address potential risks.
For example, a retail store may install surveillance cameras to deter theft and have strict inventory control procedures in place to minimize the chances of inventory shrinkage.