This quiz works best with JavaScript enabled. Home > Economics > Decision > Management > Decision Making – Quiz 5 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books Decision Making Quiz 5 (30 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which of the following stages in the family life cycle does a family typically downsize their house? A) Early parenthood. B) Newlywed. C) Late parenthood. D) Retirement. Show Answer Correct Answer: D) Retirement. 2. Compliance is a decision making strategy in which a person ..... A) Pick the option with the lowest level of risk. B) Consider every possible option. C) Let someone else make the decision. D) Delay making a decision. Show Answer Correct Answer: C) Let someone else make the decision. 3. The last step in the decision-making process is: A) Act. B) Examine Options. C) Evaluate. D) Decide. Show Answer Correct Answer: C) Evaluate. 4. ..... are decision made in routine, repetitive, well-structured situations through the use of predetermined decision rules. A) Non-programmed decisions. B) Complicated decision. C) Decision making. D) Programmed decisions. Show Answer Correct Answer: D) Programmed decisions. 5. Morris showed ..... when he admitted to his grandmother that he knocked over and broke the figurine on the coffee table. He offered to buy her a new one. A) Goals. B) Integrety. C) Attitude. D) Consequences. Show Answer Correct Answer: B) Integrety. 6. Which of the following questions measures a person's activity? A) Do you agree the U.S. medical system needs reform?. B) How important is it to you to try new food?. C) How often do you visit shopping malls?. D) Do you enjoy reading?. Show Answer Correct Answer: C) How often do you visit shopping malls?. 7. Which one of these definitions best describe Opportunity Costs? A) The cost of making one decision over another. B) The cost for the opportunity to buy anything you want. C) The opportunity that will cost you loads of money. D) None of above. Show Answer Correct Answer: A) The cost of making one decision over another. 8. When do scientists believe the brain fully develops A) In the 20s. B) Never. C) In the 30s. D) In the teens. Show Answer Correct Answer: A) In the 20s. 9. Why should you take responsibility for your decisions? A) You will get credit when you make a good decision. B) Admitting that you made a mistake shows strength of character, or integrity. C) People do not respect you if you blame others for your mistakes. D) All of the above. Show Answer Correct Answer: D) All of the above. 10. Which of these is an example of data is playing an increasingly important role in marketing decision-making? A) Online aptitude tests for job applicants. B) Automated inventory management systems. C) Dynamic pricing. D) Digital production capacity allocation. Show Answer Correct Answer: C) Dynamic pricing. 11. Generally, what time period are 'tactical' decisions made for? A) Hourly. B) Every second. C) +10 years. D) 12 months. Show Answer Correct Answer: D) 12 months. 12. What is a temporary decision you make with only the information you have at the moment? A) Procrastination. B) Compromise. C) Conflict. D) Tentative. Show Answer Correct Answer: D) Tentative. 13. What is an emergency fund? A) An investment. B) To pay for your school supplies. C) A financial safety net for future mishaps and/or unexpected expenses. D) When you want to buy an expensive gift. Show Answer Correct Answer: C) A financial safety net for future mishaps and/or unexpected expenses. 14. Major Decision includes all of the following but A) What career I should pursue. B) Buying a car. C) What to do after high school. D) What I should put on my toast. Show Answer Correct Answer: D) What I should put on my toast. 15. Values are ..... A) The way a person thinks, feels, and acts. B) Beliefs or things you find important. C) The same for everyone. D) The result of a decision. Show Answer Correct Answer: B) Beliefs or things you find important. 16. An example of a human resource is: A) Experience. B) Money. C) Clothes. D) Tools. Show Answer Correct Answer: A) Experience. 17. Decisions that are grouped according to the relationships between the decisions are? A) Central-satellite and chain. B) Chain and habitual. C) Rational and impulse. D) Impulse and habitual. Show Answer Correct Answer: A) Central-satellite and chain. 18. Like all mental disciplines, ..... ..... ..... requires following certain guidelines and principle. A) Effective decision making. B) Smart decision making. C) Accurate decision making. D) Thorough decision making. Show Answer Correct Answer: B) Smart decision making. 19. This decision making value has to do with the accumulation or sharing of knowledge A) Educational. B) Aesthetic. C) Moral. D) Economic. Show Answer Correct Answer: A) Educational. 20. What is the first step of making effective decisions according to the model? A) Weighing up the Risks Involved. B) Deciding on Values. C) Listing Possible Solutions/Options. D) None of above. Show Answer Correct Answer: C) Listing Possible Solutions/Options. 21. Giving up one thing such as buying a present for a friend and instead buying new shoes is an example of what. A) Ethics. B) Trade Off. C) Standards. D) None of above. Show Answer Correct Answer: B) Trade Off. 22. In which situation is an effective manager most likely to use a laissez-faire management style? A) Employees are highly-skilled and motivated. B) Employees are being made redundant. C) Employees and inexperienced and need greater training. D) Employees are threatening industrial action. Show Answer Correct Answer: A) Employees are highly-skilled and motivated. 23. A Goal should have ..... A) Pretty flowers. B) Big Words. C) A Timeline. D) Small words. Show Answer Correct Answer: C) A Timeline. 24. When making a decision what is the MOST important influence factor to consider? A) The feelings of others. B) Values & Ethics of others. C) Your Ethics & Values. D) Your Likes & Dislikes. Show Answer Correct Answer: C) Your Ethics & Values. 25. Which of the following does NOT affect when people make a purchase? A) Discount sales. B) Store atmosphere. C) Certain holidays. D) Time pressure. Show Answer Correct Answer: B) Store atmosphere. 26. (U1C4L1:Q2) ..... is the last step of the decision-making/problem-solving process. A) Weighing your options. B) Making your decision and taking action. C) Implementing the plan. D) None of above. Show Answer Correct Answer: C) Implementing the plan. 27. ..... is the process of taking corrective action in order to meet objectives. A) Synergy. B) Programmed decision. C) Problem solving. D) Non-programmed decision. Show Answer Correct Answer: C) Problem solving. 28. One of the most influential factors on teenager's decsions are: A) Their teachers. B) Their sports. C) Their peers. D) Their homework. Show Answer Correct Answer: C) Their peers. 29. According to which theory is it that when individuals observe behaviour, they attempt to determine whether it is internally or externally caused? A) Utilitarianism theory. B) Attribution theory. C) Bounded rationality theory. D) Selective perception theory. Show Answer Correct Answer: B) Attribution theory. 30. This decision making value has to do with understanding the natural world A) Scientific. B) Health. C) Recreational. D) Aesthetic. Show Answer Correct Answer: A) Scientific. ← PreviousNext →Related QuizzesDecision QuizzesEconomics QuizzesDecision Making Quiz 1Decision Making Quiz 2Decision Making Quiz 3Decision Making Quiz 4Decision Making Quiz 6Decision Making Quiz 7Decision Making Quiz 8Decision Making Quiz 9 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books