Definition of Acceptable risk:
Level of human and/or material injury or loss from an industrial process that is considered to be tolerable by a society or authorities in view of the social, political, and economic cost-benefit analysis.
How to use Acceptable risk in a sentence?
- The acceptable risk was deemed to be at a level that was acceptable for the time being so we proceeded.
- While Peter knew that he could lose a significant amount of money in the stock market, the promise of the potential for great returns convinced him that the investment was an acceptable risk and he decided to proceed with the purchase of ten thousand shares.
- When working at the steel mill, there is only a certain level of acceptable risk before the job becomes too dangerous to accomplish.
Meaning of Acceptable risk & Acceptable risk Definition