Another important aspect of toxicology is risk assessment, which is a characterization of the potential adverse effects resulting from exposure to a toxicant. Risk is the probability of an adverse outcome. The basic steps involved in risk assessment are the identification of the magnitude of the hazard, which is the potential for harm of a toxicant, and the resultant characterization of risk, which is the probability of realizing that harm. The results of risk assessments are routinely used by regulators to establish acceptable concentrations of toxicants in the environment.
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