ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Developing alternatives
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Implementing the alternative
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Evaluating the alternative
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Selecting an alternative
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Detailed explanation-1: -Seeking alternative solutions is not a step of decision making.
Detailed explanation-2: -Hence, we conclude that changing the desired outcome is NOT one of the steps involved in the decision-making process.
Detailed explanation-3: -An alternative is one of the possible courses of action available. Without alternatives, we have no decision. Good alternatives are (1) under our control, (2) significantly different, (3) potentially attractive, and (4) doable.
Detailed explanation-4: -Answer and Explanation: Correct answer: Option b.) Deliver final reports.
Detailed explanation-5: -1] Making routine choices and judgments. When you go shopping in a supermarket or a department store, you typically pick from the products before you. 2] Influencing outcomes. 3] Placing competitive bets. 4] Making strategic decisions. The constraint of decision making research.