Which of the Following Is a True Statement About Decision-Making

question 32

Multiple Choice

Which of the following is a true statement about decision-making software?

• A) They are only used in situations where subjective rationality is not applicable.
• B) They complicate the process of decision making.
• C) They do not make the decisions for the supervisors.
• D) They are designed to promote groupthink.

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Definitions:

Opportunity Cost

The abandonment of gains that might have come from different options when a particular choice is prioritized.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.

Tractors

Agricultural machinery designed for plowing, tilling, and performing other tasks on farms to facilitate crop production.

Gain From Trade

The increase in utility or benefit that entities receive from trading goods or services with each other, often as a result of specialization and efficiency.