Managers Who Use a High Degree of Intuition and Have

question 84

True/False

Managers who use a high degree of intuition and have a low tolerance for ambiguity have a behavioural decision-making style.

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Definitions:

Law of Averages

A layman's term for the statistical principle that over time, outcomes will tend towards the expected average; not a formal economic law. NO.

Microeconomics

The branch of economics that studies individual units of the economy, such as households and firms, and their interactions in markets.

Macroeconomics

The branch of economics that studies the behavior and performance of an economy as a whole, focusing on aggregate outcomes such as economic growth, inflation, and unemployment.

National Income

The total income earned by a country's people and businesses, including wages, rent, interest, and profits.