Beach of Hikkaduwa in Sinhala

හික්කඩුව වෙරළ තීරය

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Introduction to Economics in Sinhala

ආර්ථික විද්‍යාව හැදින්වීම

The consequences of the recent rupee devaluation in Sri Lanka

ශ්‍රී ලංකා රුපියල අවප්‍රමාණය

Neo-Liberalism and the Social Market Economy in Sinhala

 නව ලිබරල්වාදය හා සමාජ වෙළදපල ආර්ථිකය

Risk And Uncertainty in Sinhala

අවදානම හා අවිනිශ්චිතතාවය 

Risk And Uncertainty

Economic Decision Making Is Not An Easy Task Under Risk And Uncertainty. Therefore The Economic Agents(Importers,Households Etc)Need To Have An Understanding About The Risk And Uncertainty And The Relationship Between The Among  Them To Make Decision.

Risk - Uncertainty Concerning A Loss(සැකයක් නොමැතිකම)

Uncertainty – A Risk Of Being Lack Of Doubt(අලාභයක් ගැන අවිනිශ්චිතය)

                                                               

Main Characteristics Of Uncertainty

1. Cannot List All Possible Outcome.

2. Cannot Assign Probability To The Outcomes.

Relationship Between Risk And Uncertainty

1.Both Concepts Deal With The Probability Of Loss Or The Chance Of Adverse Outcomes.

2.Risk Is Defined As Unknown That Have Measurable Probabilities. Uncertainty Involves Unknown     With No  Measurable Probabilities Of Outcome.These Concepts Are Related, But Not The Same.

Meaning

Risk – The Probability Of Winning Or Losing Something Worthy Is Known As Risk.(වටිනා දෙයක් අහිමිවීමේ සම්භාවිතාව අවදානමක් ලෙස හැදින්වේ.) 

Uncertainty – Uncertainty Implies A Situation Where The Future Events Are Unknown.(අනාගත සිදුවීම් නොදන්නා තත්වයකි)