This quiz works best with JavaScript enabled. Home > Decision Making > Information For Decision Making > Information For Decision Making – Quiz 10 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Information For Decision Making Quiz 10 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. High heuristic validity A) Applicable to many areas in practical ways. B) Applicable to many environments. C) Applicable to many theories. D) Applicable to many populations. Show Answer Correct Answer: A) Applicable to many areas in practical ways. 2. Which term best characterizes a decision that has bounded rationality? A) Virtually perfect. B) Rigorous and comprehensive. C) Not good enough. D) Just good enough. Show Answer Correct Answer: D) Just good enough. 3. Step 1 in the decision making process A) List your choices. B) Identify your problem. C) Make a choice. D) None of above. Show Answer Correct Answer: B) Identify your problem. 4. Consumers make three types of purchases: ....., Repeat Purchases and Long Term Commitment Purchases. A) Spontaneous Purchases. B) Promotion Purchases. C) Trial Purchases. D) Member Purchases. Show Answer Correct Answer: C) Trial Purchases. 5. Payables are the value of: A) A firm's overdraft from its bank. B) Inventory held by a business. C) Money owed to a firm by customers. D) Money owed to suppliers by a business. Show Answer Correct Answer: D) Money owed to suppliers by a business. 6. To stop developing, growing, progressing or advancing A) Impulse. B) Compliance. C) Agony. D) Stagnation. Show Answer Correct Answer: D) Stagnation. 7. Even the most creative manager might find it difficult to be effective if his/her boss were too A) Friendly. B) Asserive. C) Controlling. D) None of above. Show Answer Correct Answer: C) Controlling. 8. Which if the following is considered external stimuli? A) Television Advertising. B) Hunger. C) Thirst. D) Fatigue. Show Answer Correct Answer: A) Television Advertising. 9. The result that a person aims for and works hard to reach is called ..... A) Scarcity. B) Goal. C) Opportunity Cost. D) None of these answers. Show Answer Correct Answer: B) Goal. 10. Which of the following would be a relevant cost that would need to be considered for pricing a special order? A) Existing fixed manufacturing overhead. B) Additional set-up costs for the special order. C) . Non-manufacturing costs that will not change even if the special order is accepted. D) None of above. Show Answer Correct Answer: B) Additional set-up costs for the special order. 11. Working capital is calculated by: A) Subtracting cash outflow from cash inflow. B) Subtracting total liabilities from total assets. C) Calculating the total value of liquid assets. D) Subtracting total expenses from total revenue. Show Answer Correct Answer: B) Subtracting total liabilities from total assets. 12. CONSUMER BEHAVIOUR talks about how consumers make purchase decisions, ..... and dispose of products. A) Choose. B) Accept. C) Offer. D) Use. Show Answer Correct Answer: D) Use. 13. When you have enough information, ..... your choices. A) Analyze. B) Justify. C) Detail. D) Execute. Show Answer Correct Answer: A) Analyze. 14. Successful managers are A) Communicators. B) Relationship builders. C) Decision makers. D) All of the responses. Show Answer Correct Answer: D) All of the responses. 15. Uses estimates and probabilities to calculate likely outcomes and helps to decide whether the net gain from a decision is worthwhile A) Critical Path Analysis. B) Decision Tree. C) Scientific Decision. D) Strategic Decision. Show Answer Correct Answer: B) Decision Tree. 16. Your potential for learning a certain skill A) Aptitude. B) Goal. C) Data. D) Self-concept. Show Answer Correct Answer: A) Aptitude. 17. Having a group spontaneously suggest a broad range of alternatives for making a decision A) Brainstorming. B) Devil's advocate. C) Groupthink. D) Escalating commitment. Show Answer Correct Answer: A) Brainstorming. 18. What occurs once in every minute, twice in every moment, yet never in a thousand years? A) 60 seconds. B) The letter m. C) The letter t. D) The letter e. Show Answer Correct Answer: B) The letter m. 19. What information condition lies between certainty and uncertainty in making decisions? A) Risk. B) Decision rules. C) Problem solving. D) Guesswork. Show Answer Correct Answer: A) Risk. 20. This type of question is basically about what is happening. A) Descriptive. B) Predictive. C) Prescriptive. D) Transcriptive. Show Answer Correct Answer: A) Descriptive. ← PreviousNext →Related QuizzesDecision Making QuizzesInformation For Decision Making Quiz 1Information For Decision Making Quiz 2Information For Decision Making Quiz 3Information For Decision Making Quiz 4Information For Decision Making Quiz 5Information For Decision Making Quiz 6Information For Decision Making Quiz 7Information For Decision Making Quiz 8Information For Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books