Match the Options Below with the Correct Phrases

question 65

Multiple Choice

Match the options below with the correct phrases:
-payback analysis

• A)a decision based upon frequent, repeating, and/or predictable outcomes
• B)a mock-up or model of reality
• C)managers want to make the perfect decisions
• D)constraints that restrict decisions
• E)a method to determine the time it will take to recoup return on initial investment
• F)quantity is important, everyone contributes, the more ideas the better
• G)a mathematical model which analyzes optimization for competitive advantages
• H)a group decision-making technique designed to allow equitable input from all members
• I)the total process of identifying problems through the implementation of alternative choices
• J)responses to written questionnaires are collected, consolidated, redistributed, collected, etc.
• K)delivering raw materials to correspond with production schedules
• L)not getting caught up in the old ways

---

Definitions:

MC

Marginal Cost; the additional cost incurred from producing one more unit of a good or service.

Tunnel Vision

A cognitive bias that creates a focus on a single goal or perspective, often leading to overlooking other relevant information or alternatives.

Social Pressure

The influence that is exerted on an individual or group by another individual or group, encouraging conformity to behaviors, beliefs, or values.

Excessive Time

Spending more time than is necessary or advantageous on a task or activity, potentially leading to inefficiency or burnout.