This quiz works best with JavaScript enabled. Home > Economics > Decision > Management > Decision Making – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Decision Making Quiz 3 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. What management style means that all decisions are made centrally? A) Bureaucratic. B) Authoritarian. C) Laissez-faire. D) Democratic. Show Answer Correct Answer: B) Authoritarian. 2. Reorganizing your closet is an example of a(n) ..... A) Goals. B) Consequences. C) Attitude. D) Short term. Show Answer Correct Answer: D) Short term. 3. When solving a problem, you should do which of the following? A) Keep your values and goals in mind. B) Ignore your friends' advice. C) Follow your friends' advice. D) Keep your option to a minimum. Show Answer Correct Answer: A) Keep your values and goals in mind. 4. ..... goals are ones you want to achieve in one to five years. A) Short-term. B) Intermediate. C) Long-term. D) None of above. Show Answer Correct Answer: B) Intermediate. 5. Decision-making strategy in which you choose the alternative with the lowest level of risk A) Play it Safe. B) Escape. C) Trade Off. D) None of above. Show Answer Correct Answer: A) Play it Safe. 6. What can stress cause? A) Heart issues. B) Mental health issues. C) Stomach issues. D) All of the above. Show Answer Correct Answer: D) All of the above. 7. Resources available to residents of an area: A) Chain decision. B) Community resources. C) Nonhuman resources. D) Human resources. Show Answer Correct Answer: B) Community resources. 8. The first step of decision making is A) Identify the problem. B) Make the decision. C) Outline the consequences. D) List your options. Show Answer Correct Answer: A) Identify the problem. 9. What you give up when you choose one alternative over another. The alternative you don't choose. A) Trade-Off. B) Opportunity Cost. C) Instant Gratification. D) None of above. Show Answer Correct Answer: A) Trade-Off. 10. Generally, what time period are strategic decisions made for? A) +5 years. B) 12 monthsDaily. C) 12 months. D) None of above. Show Answer Correct Answer: A) +5 years. 11. What are the four principles (pillars) of democracy? A) Freedom, Equity, Representation, Justice. B) Freedom, Equity, Representation, Equality. C) Freedom, Equality, Representation, Justice. D) Freedom, Equity, Equality, Justice. Show Answer Correct Answer: A) Freedom, Equity, Representation, Justice. 12. A group whose members are bought together as a problem-solving team A) Synectics. B) Nominal Grouping. C) Brainstorming. D) None of above. Show Answer Correct Answer: A) Synectics. 13. Refers to a one-time random human error A) Effectual Problem. B) Deviation. C) Causal Problem. D) None of above. Show Answer Correct Answer: B) Deviation. 14. Generally, what time period are operational decisions made for? A) Daily. B) 12 months. C) +10 years. D) None of above. Show Answer Correct Answer: A) Daily. 15. In the Blake Mouton Managerial Grid, what name is given to a leadership style with low concern for people and low concern for performance? A) Country club. B) Impoverished management. C) Team management. D) Middle of the road. Show Answer Correct Answer: B) Impoverished management. 16. Ethical factors can affect consumer decision-making, .Which of the following is not an ethical factor: A) Sustainable use of resources. B) Recycling. C) Cheapest price. D) Animal welfare. Show Answer Correct Answer: C) Cheapest price. 17. 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. 18. Deciding where to open a new restaurant would be considered a A) Routine decision. B) Non programmed decision. C) Programmed decision. D) Major decision. Show Answer Correct Answer: B) Non programmed decision. 19. 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?. 20. How many steps are in the decision making process? A) Seven. B) Six. C) Eight. D) Five. Show Answer Correct Answer: A) Seven. 21. All the following are components of the decision-making process except: A) Identifying limiting factors. B) Cost-budget analysis. C) Selecting the best alternative. D) Implementing the decision. Show Answer Correct Answer: B) Cost-budget analysis. 22. 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. 23. When making decisions, a person should try to avoid which of the following? A) Identifying relevance. B) Getting help from a colleague. C) Listening to impulses. D) Making diagrams. Show Answer Correct Answer: C) Listening to impulses. 24. 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. 25. 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. 26. 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. 27. You envision yourself in the future and how various options to your problem play out. What are you doing? A) Giving the decision time. B) Going with your gut feeling. C) Asking for advice. D) Making a mental movie prior to making a decision. Show Answer Correct Answer: D) Making a mental movie prior to making a decision. 28. 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. 29. Complete the phrase:'The stronger the pillar ..... ?' A) The stronger the people. B) The happier the community. C) The sadder the citizens. D) The greater the economy. Show Answer Correct Answer: A) The stronger the people. 30. What is the problem within your business. What step is this considered? A) Step 7. B) Step 5. C) Step 2. D) Step 1. Show Answer Correct Answer: D) Step 1. ← PreviousNext →Related QuizzesDecision QuizzesEconomics QuizzesDecision Making Quiz 1Decision Making Quiz 2Decision Making Quiz 4Decision Making Quiz 5Decision Making Quiz 6Decision Making Quiz 7Decision Making Quiz 8Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books