Items That Demand the Simplest Possible Controls to Make Sure

question 2

Multiple Choice

Items that demand the simplest possible controls to make sure there are plenty in stock are___________ items.

• A) A
• B) B
• C) C
• D) D

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Definitions:

Path Dependency

The idea that decisions we face for any given circumstance are limited by the decisions we have made in the past, even though past circumstances may no longer be relevant.

Participative Decision Making

Decision making in which individuals who are affected by decisions influence the making of those decisions.

Bounded Rationality

A concept that decision-makers are limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes.