In Which of the Following Types of Decision-Making Approaches Do

question 61

Multiple Choice

In which of the following types of decision-making approaches do consumers tend to search diligently for information that will help them reach a satisfactory decision?

• A) Rational decision making
• B) Limited decision making
• C) Extended decision making
• D) Habitual decision making
• E) Routine decision making

---

Definitions:

Direct Materials Purchases

The acquisition of raw materials used directly in the manufacturing of products, considered part of the inventory costs.

Materials Required

The raw materials and components needed for the production of goods.

Financial Budgets

Prospective financial statements that project the revenues, expenses, and cash flows of a business for a future period.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, often used for managing liquidity.