New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    When the decision maker chooses the optimal solution to

    a problem that maximises the outcome, after careful analysis, it is known as ________
    A Rational decision making Correct Answer Incorrect Answer
    B Optimal decision making Correct Answer Incorrect Answer
    C Bounded rationality decision making Correct Answer Incorrect Answer
    D Intuitive decision making Correct Answer Incorrect Answer
    E Utopian decision making Correct Answer Incorrect Answer

    Solution

    Rational decision makingis a multi-stepprocessformakingchoices between alternatives. Theprocessofrational decision-makingfavors logic, objectivity, and analysis over subjectivity and insight. The rational decision-making process involves careful, methodical steps like identifying the problem, identifying the alternatives, evaluating them and them selecting the best alternative. It aims at coming at the most optimal solution to the problem.

    Practice Next

    Relevant for Exams: