Epstein Has Suggested That We Have Two Systems of Information

question 58

Multiple Choice

Epstein has suggested that we have two systems of information processing, a rational system that uses abstract, logical knowledge and a(n) ________________ system that uses intuitive knowledge to respond more quickly.

• A) illogical
• B) unconscious
• C) right brain
• D) experiential

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Definitions:

Excess Capacity

The situation in which a firm's production capabilities exceed the demand for its products or services.

Service Firms

Companies that primarily offer intangible products, such as expertise, assistance, or information, rather than physical goods.

Pure Chase Strategy

A demand matching or production strategy where output is adjusted to match demand precisely, reducing inventory levels to a minimum.

Subcontracting

The practice of assigning part of the obligations and tasks under a contract to another party, often to specialize or expedite processes.