Optimal Decisions Are Made Based Upon the Concept of Opportunity

question 119

True/False

Optimal decisions are made based upon the concept of opportunity cost.

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Definitions:

External Causes

Factors outside an individual's or organization's control that affect outcomes or conditions, often contrasted with internal causes.

Stereotyping

The act of categorizing individuals into specific groups based on preconceived notions or characteristics, often leading to biased judgments and actions.

Prejudice

A preconceived opinion or judgment towards people or things, often based on stereotypes rather than actual experience or knowledge.

Discrimination

Unfair or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, or sex.