A Decision Maker's Need to Justify Their Decision Tends to Cause

question 66

Multiple Choice

A decision maker's need to justify their decision tends to cause:

• A) More ethical decisions
• B) Escalation of commitment
• C) Creative decisions
• D) The decision maker to look for more alternatives

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Definitions:

Economic Profit

The distinction between overall income and total expenditures, encompassing both direct and indirect costs.

Dude Ranch

A vacation destination that mimics the lifestyle of a working ranch, offering guests experiences such as horseback riding, cattle driving, and other outdoor activities.

Economic Profit

The total revenue of a business minus its explicit and implicit costs, including opportunity costs.

Raw Materials

Basic substances in their natural, modified, or semi-processed state, used as inputs for production.