When managers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likelihood of occurrence in the future, this is known as
A)uncertainty.
B)certainty.
C)risk.
D)bounded rationality.

Question

Quizplus · Accepted Answer

Risk involves situations where managers can assign probabilities to different outcomes, allowing them to anticipate and plan for various possibilities.

When Managers Know the Possible Outcomes of a Decision and Can