Which type of risk would be associated with job accidents?

The type of risk associated with job accidents is best classified as pure risk. Pure risk refers to situations where there are only two outcomes: loss or no loss. In the context of job accidents, the potential outcomes are either the occurrence of an accident resulting in injury or damage (a loss) or the absence of any incident (no loss). This aligns with the nature of pure risk, which does not include the possibility of profit or gain; it is purely concerned with the risk of loss.

In contrast, speculative risk involves scenarios where there is a chance of both loss and gain, such as investing in the stock market. Strategic risk pertains to the uncertainties and potential losses related to an organization’s strategies, which can arise from shifts in market conditions, competition, or regulatory changes. Financial risk generally involves the chance of a financial loss related to currency fluctuations, credit risk, or other monetary elements. Given these definitions, the classification of job accidents under pure risk is appropriate due to the clear-cut nature of the outcomes involved.