What Is Meant by the Term "Rational Ignorance

question 153

Multiple Choice

What is meant by the term "rational ignorance"?

• A)It refers to the absence of a negative incentive, for example, a fine for not voting, which results in a low voter turnout.
• B)It refers to a situation where one policymaker deliberately approves a bill he does not support in exchange for a future favorable vote for his own cause.
• C)It means the lack an economic incentive for voters to become informed about a pending legislation.
• D)It refers to the fact that policymakers and their constituents have different ideas of what it means to behave rationally and each party deliberately ignores the other's view.

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Definitions:

Quick Response System

A supply chain management approach designed to speed up inventory replenishment and enhance efficiency.

Sustainable Competitive Advantage

A long-term strategy that allows an organization to consistently outperform its competitors over time, due to unique resources or capabilities.

Operational Excellence

The practice of optimizing processes, resources, and culture to deliver the best possible value to customers.

Amazon

An American multinational technology company primarily known for its e-commerce platform, along with cloud computing, digital streaming, and artificial intelligence.