This quiz works best with JavaScript enabled. Home > Decision > Management > Decision Making – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Decision Making Quiz 5 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What is the amount of income remaining after all bills and obligations are paid that can be used to purchase goods and services? A) Luxury spending. B) Overconsumption. C) Variable expenses. D) Discretionary income. Show Answer Correct Answer: D) Discretionary income. 2. Deciding where to open a new restaurant would be considered a A) Programmed decision. B) Non programmed decision. C) Major decision. D) Routine decision. Show Answer Correct Answer: B) Non programmed decision. 3. A person can judge the success of a decision by asking: A) Did the decision help me meet my goal?. B) Am I making any money?. C) Did I follow all the steps in the process correctly?. D) Am I using all of my skills and training?. Show Answer Correct Answer: A) Did the decision help me meet my goal?. 4. How many steps are in the decision making process? A) Eight. B) Seven. C) Six. D) Five. Show Answer Correct Answer: B) Seven. 5. All the following are components of the decision-making process except: A) Implementing the decision. B) Cost-budget analysis. C) Selecting the best alternative. D) Identifying limiting factors. Show Answer Correct Answer: B) Cost-budget analysis. 6. Consumers purchase goods and services A) To satisfy their basic needs and wants. B) To keep up with social trends. C) Because businesses use marketing to make them. D) To keep the economy afloat. Show Answer Correct Answer: A) To satisfy their basic needs and wants. 7. When making decisions, a person should try to avoid which of the following? A) Getting help from a colleague. B) Listening to impulses. C) Making diagrams. D) Identifying relevance. Show Answer Correct Answer: B) Listening to impulses. 8. A decision to cut many jobs as part of a cost-reduction strategy is most likely to be opposed by which stakeholder groups? A) Employees & the local community. B) Directors & customers. C) Shareholders & management. D) Suppliers & customers. Show Answer Correct Answer: A) Employees & the local community. 9. After finally making the decsions what should we do? A) Anonunce it publicly right away. B) Sleep on it and then anounce it. C) Ask for the opinions and inputs of those around us. D) None of above. Show Answer Correct Answer: B) Sleep on it and then anounce it. 10. What is the final step according to the same model? A) Listing Possible Solutions/Options. B) Making the Decision. C) Weighing up the Pros and Cons. D) Evaluate the Decision. Show Answer Correct Answer: D) Evaluate the Decision. 11. You envision yourself in the future and how various options to your problem play out. What are you doing? A) Asking for advice. B) Making a mental movie prior to making a decision. C) Giving the decision time. D) Going with your gut feeling. Show Answer Correct Answer: B) Making a mental movie prior to making a decision. 12. What does making the right decisions in life call for/require? A) It calls for willpower and a quick response. B) It calls for self respect and determination. C) It calls for confidence and loyalty. D) It calls for punctuality and honesty. Show Answer Correct Answer: A) It calls for willpower and a quick response. 13. Complete the phrase:'The stronger the pillar ..... ?' A) The happier the community. B) The stronger the people. C) The sadder the citizens. D) The greater the economy. Show Answer Correct Answer: B) The stronger the people. 14. What is the problem within your business. What step is this considered? A) Step 2. B) Step 7. C) Step 1. D) Step 5. Show Answer Correct Answer: C) Step 1. 15. Anger can make you have A) Negative body language. B) Positive body language. C) Good moods. D) All of the above. Show Answer Correct Answer: A) Negative body language. 16. The root cause for a student spending more than she has is that she ..... A) Occasionally makes impulse buys. B) Purchases things online. C) Does not keep track of her spending. D) Has no emergency fund. Show Answer Correct Answer: C) Does not keep track of her spending. 17. Decide on strategy and course of action, lets get it done. What step is this considered? A) Step 6. B) Step 1. C) Step 4. D) Step 5. Show Answer Correct Answer: A) Step 6. 18. (U1C4L1:Q6)What will short-term and intermediate goals help you achieve? A) Money. B) Popularity. C) Long-term goals. D) None of above. Show Answer Correct Answer: C) Long-term goals. 19. Decisions can be broken up into 3 categories. Which of the following is NOT one of the categories A) Major decision. B) Moral decision. C) Manageable decisions. D) Minor decision. Show Answer Correct Answer: C) Manageable decisions. 20. Cultural factors refer to the set of values, behaviours and ideals that are shared by a group of people . Which of the following is not an example: A) Nation. B) Religion. C) Location. D) Trends. Show Answer Correct Answer: D) Trends. ← PreviousNext →Related QuizzesDecision QuizzesDecision Making Quiz 1Decision Making Quiz 2Decision Making Quiz 3Decision Making Quiz 4Decision Making Quiz 6Decision Making Quiz 7Decision Making Quiz 8Decision Making Quiz 9Decision Making Quiz 10 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books