____________ is a situation in which a decision-maker knows all alternatives and their outcomes.
A)Uncertainty
B)Rationality
C)Certainty
D)Heuristics

Question

Quizplus · Accepted Answer

Certainty refers to a situation where the decision-maker has complete knowledge of all available alternatives and their outcomes, thus making it easier for them to make a well-informed choice. In a certain environment, decision-makers are more likely to choose Rationality as they can make an optimal decision without the influence of any external factors. Uncertainty refers to a situation where the decision-maker has incomplete knowledge of the alternatives and their outcomes, and Heuristics are shortcuts or rules of thumb that are used to make quick, but not necessarily accurate, decisions.

____________ Is a Situation in Which a Decision-Maker Knows All