Decision Makers Construct Simplified Models That Extract the Essential Features

question 6

Multiple Choice

Decision makers construct simplified models that extract the essential features from problems without capturing all their complexity. That is, they operate within the confines of ________.

• A) optimal decision making
• B) intuitive decision making
• C) bounded rationality
• D) rationality
• E) common sense

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Definitions:

E-commerce

The buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet.

Social Commerce

The delivery of electronic commerce activities and transactions through social computing.

Social Networking World

The digital ecosystem comprised of websites and applications that enable users to create and share content or participate in social networking.

Web 2.0

Web 2.0 represents the second generation of the Web, focusing on the ability for people to collaborate and share information online via social media, blogs, and other interactive platforms.