Final answer:
Three interrelated concepts used in determining risk are likelihood, consequences, and risk analysis techniques.
Step-by-step explanation:
Three interrelated concepts that are used in determining risk are likelihood, consequences, and risk analysis techniques.
Likelihood refers to the probability of an event or process occurring. For example, the likelihood of a car accident happening can depend on factors such as weather conditions, driver behavior, and road conditions.
Consequences refer to the impact or outcome of a particular event or process. In the context of risk, consequences can include financial loss, environmental damage, social and economic impacts, and public health issues.
Risk analysis techniques are tools used to assess and evaluate risks. These techniques involve analyzing the likelihood and consequences of various events or processes, and may be used to inform decision-making and risk management strategies.