Harry Is a Senior Manager at Pine and Acorn Consultancy

question 51

Multiple Choice

Harry is a senior manager at Pine and Acorn Consultancy.He failed to notice that the economy of the largest market of Pine and Acorn was sliding into recession.He had failed to take a decision to expand in the growing economies costing Pine and Acorn significant future revenues.Which of the following barriers to effective decision making did Harry succumb to?

• A) Complacency
• B) Panic
• C) Gambling
• D) Deciding to decide
• E) Defensive avoidance

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Definitions:

Leisure

Time spent away from work and essential activities where individuals engage in recreation or enjoyment.

Planned Economies

Economic systems where the government or a central authority makes all decisions regarding the production and distribution of goods and services, contrasting with market economies.

Problem Of Scarcity

The fundamental economic problem of having seemingly limitless human wants in a world with limited resources, leading to the necessity of making choices.

Microeconomics

A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources.