#1
What is the first step in the decision-making process?
Identifying the problem
ExplanationIdentifying the issue to be addressed is the initial stage in decision-making.
#2
What is the term for the tendency to favor information that confirms one's preexisting beliefs or values?
Confirmation bias
ExplanationConfirmation bias leads individuals to prioritize information supporting their existing views.
#3
What is the concept of groupthink in decision-making?
The tendency of a group to seek consensus and suppress dissenting viewpoints
ExplanationGroupthink inhibits critical evaluation by favoring consensus over independent thought.
#4
In decision-making, what does the term 'paralysis by analysis' refer to?
The inability to make a decision due to overthinking and excessive information
ExplanationParalysis by analysis describes the state of being unable to decide due to excessive contemplation or data.
#5
What is the 'sunk cost fallacy' in decision-making?
The tendency to make decisions based on past investments of time, money, or resources
ExplanationSunk cost fallacy involves irrational decision-making based on prior investments, disregarding current circumstances.
#6
In decision-making, what does SWOT stand for?
Strengths, Weaknesses, Opportunities, Threats
ExplanationSWOT analysis assesses internal strengths and weaknesses along with external opportunities and threats.
#7
Which of the following is an example of a programmed decision?
Selecting a supplier for office supplies
ExplanationProgrammed decisions involve routine choices typically following established procedures.
#8
Which type of decision-making model emphasizes the role of emotions and gut feelings in the decision-making process?
Intuitive decision-making model
ExplanationIntuitive decisions rely on instinct and emotional cues rather than analytical processes.
#9
What is the primary purpose of alternative assessment in education?
To evaluate students' creativity and critical thinking skills
ExplanationAlternative assessment aims to gauge students' abilities beyond traditional testing methods.
#10
In decision-making, what does the term 'opportunity cost' refer to?
The cost of not choosing the next best alternative
ExplanationOpportunity cost is the value sacrificed by selecting one option over another.
#11
Which decision-making model emphasizes making decisions that are 'good enough' rather than seeking the optimal solution?
Satisficing decision-making model
ExplanationSatisficing aims for satisfactory outcomes without exhaustive pursuit of the best possible solution.
#12
What is the anchoring bias in decision-making?
The tendency to rely too heavily on the first piece of information encountered
ExplanationAnchoring bias is the inclination to give disproportionate weight to the initial data.
#13
Which decision-making model involves identifying all possible alternatives and evaluating each one's pros and cons before making a decision?
Rational decision-making model
ExplanationThe rational model requires exhaustive analysis of options to maximize decision quality.
#14
Which decision-making model acknowledges that individuals have limited cognitive resources and may not consider all possible alternatives before making a decision?
Bounded rationality model
ExplanationBounded rationality recognizes human constraints in processing information, leading to less exhaustive decision-making.
#15
In the context of decision-making, what does the acronym VUCA stand for?
Volatile, Unpredictable, Complex, Ambiguous
ExplanationVUCA represents the challenges posed by volatile, uncertain, complex, and ambiguous situations.
#16
What is the primary purpose of a decision matrix in decision-making?
To compare and evaluate alternatives based on multiple criteria
ExplanationDecision matrices assist in systematically comparing options across various factors.
#17
Which cognitive bias involves the tendency to rely on the first piece of information encountered when making decisions?
Anchoring bias
ExplanationAnchoring bias leads individuals to heavily weight initial information, often to the detriment of subsequent analysis.