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Decision Making Quiz

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1. Which of the following is a common cognitive bias that can affect decision-making?

2. In the context of decision making, what does 'satisficing' mean?

3. What is a key purpose of conducting a SWOT analysis in decision-making processes?

4. Which method is often used to evaluate the desirability of options based on multiple criteria in decision-making?

5. What concept involves selecting the best alternative for reaching objectives while minimizing negative outcomes?

6. What type of decision-making involves relying on quantitative data and analytical models?

7. In decision-making, what does the term 'groupthink' refer to?

8. Which decision-making model emphasizes the limitations of our ability to process information and suggests that we often opt for a satisfactory solution rather than the optimal one?

9. How does 'heuristics' influence decision-making?

10. What is the primary focus of 'prospect theory' in decision-making?