Which of the Following Approaches to Decision Making Is Based

question 44

Multiple Choice

Which of the following approaches to decision making is based on the concept of "economic man"?

• A) The minimax approach
• B) The risk-averting approach
• C) The synectics approach
• D) The satisficing approach
• E) The optimizing approach

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Definitions:

Attitudes

Psychological tendencies expressed by evaluating a particular entity with some degree of favor or disfavor.

Beliefs

Convictions or acceptances that something exists or is true, especially without proof, forming the basis of faiths or customs.

Likert Scales

A psychometric scale commonly used in questionnaires to measure attitudes, typically consisting of a series of statements that respondents may agree or disagree with.

Strongly Agree

An expression used to indicate complete alignment or concurrence with a statement or viewpoint.