Type-2 Processing Is Considered to Be

question 1

Multiple Choice

Type-2 processing is considered to be

• A) relatively fast, effortless and automatic
• B) relatively slow, effortful and volitional
• C) relatively fast, effortful and automatic
• D) relatively slow, effortful and automatic

Acknowledge the influence of gender, age, and experience on risk preferences in decision-making.

Understand the Z problem-solving model and its application in managerial decisions.

Recognize the role and effectiveness of quality circles and teams in participative decision-making.

Understand how cultural diversity affects group dynamics and decision-making outcomes.

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Definitions:

Promissory Estoppel

A legal principle that enforces a promise when someone else has reasonably relied on that promise to their detriment, even if a formal contract does not exist.

Consideration Substitute

Refers to a principle or factor that can stand in the place of consideration in certain contractual situations, allowing a contract to be enforceable without the traditional exchange of value.

Reliance

The act of depending on or trusting in something or someone, often used in legal contexts to denote reliance on a contract or promise.

Promissory Estoppel

A judicial doctrine that bars an individual from retracting a commitment once the other individual has justifiably depended on that pledge to their disadvantage.