「What is a risk? What are some benefits of taking a risk, and what are some drawbacks of risk-taking?」
The risk is the possibility of something bad happening. However, taking risks is not always a negative action, and it has both advantages and disadvantages.
In my opinion, bringing great rewards is one of the biggest advantages of taking risks. For example, when you start a new business, you have to take on many risks such as a risk of failing business or struggling under debt, because nobody knows whether your business will be successful or not and you need to raise funds from investors. This example shows us that taking risks is inevitable in order to be successful and get benefits.
In contrast, losing something is a drawback. If you can not be successful, you can get nothing or inflict a loss. In other words, taking risks may result in something which will never heal such as financial loss and physical scar.
Finally, taking risks has both the possibility that you archive good outcomes and the danger that you may bear a failure that will remain with you for the rest of your life.