When a Person Makes a Quick Decision Without Taking the Time

question 101

Multiple Choice

When a person makes a quick decision without taking the time to compare the opportunity cost of all possible options,he or she is using:

• A)bounded rationality.
• B)risk aversion.
• C)loss aversion.
• D)the status quo.

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Definitions:

Negligent

Failing to take proper care in doing something, resulting in damage or harm to another party.

Automobile

A wheeled motor vehicle used for transportation, typically fueled by gasoline, diesel, or electricity.

Negligence

The failure to exercise the care that a reasonably prudent person would exercise in like circumstances, leading to unintended harm or damage.

Unusual Circumstances

Situations that are not common or expected and often require special consideration or handling.