Quiz on Decision Making, Creativity, and Ethics

What is a 'decision'?

• A choice made from two or more alternatives

• A random guess

• A predetermined outcome

• A suggestion from others

What defines a 'Rational Decision'?

• Choices that are consistent and value maximizing within specified constraints

• Choices influenced by peer pressure

• Choices made based on emotions

• Choices that are random

What is the first step in the Rational Decision-Making Model?

• Select the Best Alternative

• Identify the Problem

• Evaluate Alternatives

• Generate Alternatives

What is involved in Step 2 of the Rational Decision-Making Model?

• Select the Best Alternative

• Weigh Decision Criteria

• Establish Decision Criteria

• Generate Alternatives

In Step 3, what must be done with the decision criteria?

• Weigh Decision Criteria

• Generate Alternatives

• Identify the Problem

• Evaluate Alternatives

What is the purpose of Step 5 in the Rational Decision-Making Model?

• Weigh Decision Criteria

• Select the Best Alternative

• Identify the Problem

• Evaluate Alternatives

Isla is trying to decide which college to attend after receiving offers from several universities. What is the final step in the Rational Decision-Making Model?

• Select the Best Alternative

• Generate Alternatives

• Evaluate Alternatives

• Identify the Problem

What is an example of criteria for buying a kitchen machine?

• Brand name, color, size

• Warranty, design, features

• Quality, cost, Watt, number of parts and functions, after sale service

• Popularity, reviews, price

What does 'bounded rationality' recognize?

• Decision-makers have unlimited information

• Decision-makers often face complex and uncertain situations

• All decisions are made perfectly

• Decisions are always made quickly

What is a limitation faced by decision-makers?

• Complete clarity

• Perfect knowledge of options

• Unlimited time

• Information Limitation