ECONOMICS

Detailed explanation-1: -The rational decision-making model takes into consideration the fact that all information pertaining to a problem might not be available to the decision maker. Rational decision making is an unconscious process created from distilled experience.

Detailed explanation-2: -Rational decision making has been defined as a more advanced type of decision-making model, laying emphasis on the characteristics of thorough research and logical evaluation, selecting among possible choices based on reason and facts.

Detailed explanation-3: -Answer and Explanation: The correct option is d. The rational decision-making model assumes that an individual can identify all the relevant options in an unbiased manner.

Detailed explanation-4: -A rational decision making model provides a structured and sequenced approach to decision making. Using such an approach can help to ensure discipline and consistency is built into your decision making process. As the word rational suggests, this approach brings logic and order to decision making.

Detailed explanation-5: -The rational model allows for an objective approach that’s based on scientifically obtained data to reach informed decisions. This reduces the chance of errors and assumptions. It also helps to minimise the manager’s emotions which might have resulted in poor judgments in the past.