Which strategy involves avoiding risky activities completely?

The strategy of avoiding risky activities completely is known as risk avoidance. This approach entails taking measures to entirely eliminate the possibility of risk. For instance, an individual may decide not to engage in activities like skydiving or mountain climbing, recognizing that such endeavors carry inherent risks that they prefer to avoid altogether. This is a proactive measure designed to protect oneself from potential negative outcomes associated with those activities.

In contrast, other strategies focus on different methods of handling risk. Risk shifting involves transferring the risk to another party, such as through insurance. Risk reduction aims to lower the likelihood or impact of a risk through precautionary measures, while risk retention means accepting the risk and its consequences, often due to a calculated decision that the potential rewards outweigh the hazards. Each of these strategies addresses risk differently, but risk avoidance is uniquely about steering clear of any activities that present potential peril.