Uncertainty as an Economic Category and as a Business Functioning Environment

Abstract

The article examines uncertainty as a category of economic science and as a characteristic of the business environment. Approaches to understanding uncertainty in the history of economic science are presented. Uncertainty as an economic category is considered a characteristic of an economic situation in which it is impossible to get an absolute idea about the internal and external conditions of the functioning of the socioeconomic system due to the ambiguity of its parameters, incompleteness, inaccuracy or contradiction of information and the influence of subjective factors, which causes the nondeterminism of economic processes, instability of economic development and economic risk. The components of the VUCA world and the BANI world are indicated, as well as the types of reactions to them in the business environment. Uncertainty is considered a norm of business functioning