When decisions must be made with limited information because full knowledge of the problem is unavailable and the probability of outcomes is unknown, the condition of _________exists.
A)certainty
B)uncertainty
C)bounded rationality
D)risk

Question

Quizplus · Accepted Answer

Uncertainty exists when decisions must be made without full knowledge of the problem or the probability of outcomes, as it implies a lack of surety about what is known and what the future holds.

When Decisions Must Be Made with Limited Information Because Full