Which of the Following Examples Is Similar to the Decision-Making

question 97

Multiple Choice

Which of the following examples is similar to the decision-making process in a consultative buying centre?

• A)James, the head of the core committee of a manufacturing firm, decides on the final value of the bid in a proposal without consulting the committee members.
• B)Charles, a member of the expert committee consisting of 12 members, decides on a particular advertisement to be used in a marketing campaign, as the ad has been approved by 4 members of the committee.
• C)Mark, who heads a team of qualified professionals, decides on a particular design for a product, after receiving input from the other members of the team.
• D)David, the chief editor of a magazine, has the complete authority to make the final decision about which articles will be published in the magazine without informing the writers.
• E)Kenneth, the head of an expert committee in a construction company, decides to buy raw materials from a particular supplier after all the experts agree that the firm will benefit from a deal with this particular supplier.

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Definitions:

Shoplifter

A person who steals goods from a store while pretending to be a customer.

Nash Equilibrium

A concept in game theory where no player can benefit by changing their strategy while the other players keep theirs unchanged, leading to a situation of mutual best response.

Simultaneous Game

A game theory model where players make decisions or choose strategies at the same time, without knowledge of the others' choices.

Nash Equilibrium

A concept in game theory where each player's strategy is optimal, given the strategies of other players, leading to a situation where no player has anything to gain by changing only their own strategy.