A Rational Choice Is One That

question 35

Multiple Choice

A rational choice is one that:

• A) allows individuals to reach their goals.
• B) involves the use of strategic decision making in an effort to reach a goal.
• C) does not involve self-interested behavior.
• D) is usually optimized when decision makers are poorly informed about alternatives.

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Definitions:

Opportunities

Situations or conditions favorable for achieving a specific goal or success.

Entrepreneurship

The act of creating, developing, and managing a new business venture in order to profit while bearing any of its risks.

Idea Generation

The act of generating, expanding, and conveying innovative thoughts.

Opportunity Recognition

The ability to identify a potentially profitable or beneficial business idea, market niche, product, or service before others.