Decisions That Are Made in Complex, Important, and Nonroutine Situations

question 150

Multiple Choice

Decisions that are made in complex, important, and nonroutine situations are called

• A) group decisions.
• B) nonprogrammed decisions.
• C) ethical decisions.
• D) programmed decisions.
• E) individual decisions.

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Definitions:

Consumer Durable

Long-lasting goods purchased by consumers that are not consumed quickly and provide utility over time, such as appliances and vehicles.

Consumer Nondurable

Goods that are consumed quickly and must be purchased regularly, such as food, beverages, and toiletries.

Service

An intangible commodity that involves providing labor or expertise in exchange for payment.

Stock Market

A public market for the trading of company shares and derivatives at an agreed price; it is a key indicator of economic health.