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Information For Decision Making Quiz 3 (30 MCQs)

Quiz Instructions

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1. Individuals with expertise in the area in question, such as your physician, pharmacist, or physical therapist can all be considered as ..... sources to assist in the decision making process.
2. When a manager makes a decision after talking to his/her subordinates and having them vote on the matter, this is what style of decision making?
3. Fill in the blank. Staff with knowledge, skills, and experience help to ..... the likelihood of a successful outcome.
4. When you don't have all the data and can't get data, the best way to make a decision is
5. Which one of these sources of finance may involve the payment of a dividend?
6. How can a person determine that a decision was a good one?
7. What is opportunity cost?
8. ..... are the small intervals and standards used to make your decisions.
9. Refers to the tendency of people in groups to suppress contrary opinions in a desire for harmony
10. Which common business activity involving math skills uses data to set numerical goals or standards?
11. Which of the following is a disadvantage of buying a used car?
12. Consumer decision rules are referred to as heuristics, decision strategies, and information-processing strategies, and are procedures used by consumers to ..... brand choices
13. A marketing mix is the blending of which marketing elements?
14. A decision making technique that uses a face-to-face group to spontaneously syuggest a broad range of alternatives for decision making is called
15. What integrates information from multiple components and tailors the information to individual preferences?
16. A manager who is reactive and works hard to address problems after they occur is known as a .....
17. A decision made in response to a situation that has occurred often enough to enable managers to develop decision rules to be applied in the future
18. When a manager makes a decision by looking at data, and surveys in order to make a product decision.
19. Which of the following does NOT affect when people make a purchase?
20. One basis for making programmed decisions is .....
21. The final step of the decision-making process is:
22. The act of committing to a choice or coming to a solution is a called .....,
23. ..... is an important choice requiring careful thought because it affects a person's career and personal life
24. When are we more likely to use System 1 thinking?
25. What does System-1 thinking do?
26. Recognition of an unfulfilled need and develop a product that will satisfy it
27. What letter is the only letter that does not appear in the name of a US state?
28. A behavior or a situation that could harm self or others
29. They often only involve you, and they have few possible negative consequences
30. After isolating the decision to be made, the next step is to gather .....
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