Final answer:
The nature of business risk includes market risk and 'pure' risk. Pure risk is associated with events over which individuals have little control and can significantly impact personal and economic stability. The correct option is c.
Step-by-step explanation:
The nature of business risk can be observed from two perspectives: market risk and pure risk. Pure risk refers to the chance of loss or no loss occurring, but no chance of gain. It involves economic risks over which an individual has very little control, such as natural disasters, war, or massive unemployment. These events can significantly impact the ability of individuals to provide for themselves and their families. Unlike market risks, which are tied to fluctuations in the marketplace, pure risks are generally insurable because they are not speculative and their occurrence and impact can be estimated with some degree of certainty.