When Making a Decision, It Is Often More Difficult to Identify

question 137

Multiple Choice

When making a decision, it is often more difficult to identify the ______ associated with the decision because ______.

• A) costs; an individual must weigh monetary costs and opportunity costs differently
• B) costs; an individual should consider opportunity costs but ignore sunk costs
• C) benefits; it is impossible to put a dollar value on benefits
• D) benefits; individual people identify benefits while firms identify costs

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Definitions:

Responsiveness

The ability to quickly and effectively respond to customer needs, complaints, and market changes, contributing to customer satisfaction and competitive advantage.

Customer Satisfaction

Refers to the measure of how products or services supplied by a company meet or surpass a customer's expectation.

Orientation

The initial process of familiarizing a new employee with the company, its policies, and their role, or the underlying approach or attitude of an individual or organization.

Social Media Platforms

Online spaces and services where users can interact, share content, and communicate with one another.