Entrepreneurship contributes to the economic development of the society in which it operates, and one of the most important factors for the sustainability and progress of the economy is investing in young people. Today's youth are tomorrow's potential entrepreneurs. When entering an entrepreneurial venture, young people usually do not have a wide range of experience and skills, and the application of new skills and intellectual capital is a source of future key professional abilities and competencies. Entrepreneurial competence can be defined as a combination of knowledge, skills, attitudes and abilities to create and discover opportunities in the environment and manage the organization. A good entrepreneur must possess skills such as innovation, self-confidence, persistence, responsibility and the ability to manage risk sensibly. There are several definitions and types of risk. Risk represents uncertainty in the outcome of expected events in the future, that is, risk is a situation in which entrepreneurs are not sure what will happen, and it reflects the probability of possible outcomes around some expected value. Price risk is one of the financial risks and arises as a result of unpredictable events that make it difficult and even impossible to pay in international trade where there is a possibility that one of the involved parties will be damaged due to sudden price movements. Risk management is defined as undertaking activities that lead to the minimization of the negative impact on the company's business results and goals. Therefore, entrepreneurs should manage risk in such a way as to balance the costs of risk management and the benefits resulting from this activity. The paper explains the instruments and strategies of price risk management and conducts a survey of young people's familiarity with price risk and price risk management instruments. The research results showed that young people are familiar with price risk and its impact on entrepreneurs, consumers and investors, while they are to a lesser extent familiar with instruments for managing and protecting against price risk.