__________ Exist(s) When There Is a Need in the Market

question 101

Multiple Choice

__________ exist(s) when there is a need in the market that can be satisfied by new goods or services.

• A) Potentiality
• B) Market readiness
• C) Entrepreneurial opportunities
• D) Critical core competencies

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Definitions:

Bounded Rationality Model

A theory that suggests individuals make decisions based on the limited information available to them and within the confines of their cognitive limitations.

Evidence-Based Model

A framework for decision-making that involves integrating individual expertise with the best available external evidence from systematic research.

Bounded-Rationality Model

This model suggests that individuals make decisions based on limited information and cognitive processing abilities, leading to satisficing rather than optimal outcomes.

Mental Blinders

Cognitive limitations that prevent individuals from seeing alternatives or understanding different perspectives, akin to tunnel vision.