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Commerce · Q318

Economics

Graduate and Post Graduate · Commerce · question 318

Q318

Rational decision making requires that

A.
One's choices be arrived at logically and without errors
B.
One's choices be consistent with one's goals
Answer
C.
One's choices never vary
D.
One makes choices that do not involve trade offs

Answer: Option B

Solution

Answer: Option B
Solution:
Rational decision making requires that One's choices be consistent with one's goals. Rational choice theory, also called rational action theory or choice theory, school of thought based on the assumption that individuals choose a course of action that is most in line with their personal preferences.