A key feature of decision making under conditions of risk

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Q1. Which of the following is not a feature of “buy in” by decision makers when making decisions? a. All the people making the decision agree this is the best decision b. A majority of people making the decision agree this is the best decision c. While some players do not actively agree with a decision, they will not oppose it d. Some people who vote for a decision work against its implementation during the decision implementation process

2. A key feature of decision making under conditions of risk is: a. You know the probability of an event b. You don’t know the probability of an event c. It lends itself to assessing risk through group decision making processes d. It is built on the qualitative assessment of data.

3. When two or more people come up with a decision based on attempts to accommodate their completely different value systems, the resulting decision can be deemed: a. A good one b. A bad one c. Irrational d. Non-rational

Q18. Welfare economics is principally concerned with providing poor people with food and shelter.

a. True

b. False

Q28. To a large extent, determining what a group perceives to be a good decision entails reconciling their often opposing perspectives.

a. True

b. False

Q40. IRR measures:

a. The level of profit of an investment

b. The level of revenue of an investment

c. Return on investment

d. The payback period of an investment

 

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