________ Refers to Making a Reasoned Analysis of an Opportunity

question 80

Multiple Choice

________ refers to making a reasoned analysis of an opportunity, envisioning potential solutions, evaluating those possibilities, and developing the most promising ones, consistent with the resources one has.

• A)Systems thinking
• B)Abstraction
• C)Collaboration
• D)Experimentation

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Definitions:

Behavioral Economic Explanation

A behavioral economic explanation refers to analysis that incorporates psychological insights into human behavior to explain economic decision-making.

Nash Equilibrium

An idea in game theory that suggests a player cannot improve their situation by changing strategy if every other player's strategy remains the same.

Even Dollar Increments

A pricing strategy where goods or services are priced in whole dollar amounts rather than including cents.

Complete Stranger

A person whom one does not know or with whom one is not familiar.