Which of the following approaches to decision making is based on the concept of "economic man"?
A) The minimax approach
B) The risk-averting approach
C) The synectics approach
D) The satisficing approach
E) The optimizing approach

Question

Quizplus · Accepted Answer

The optimizing approach is based on the economic man concept, which assumes that humans are rational, self-interested decision makers who seek to maximize their own benefit. This approach involves weighing the costs and benefits of each decision option to arrive at the option that will provide the greatest benefit.

Which of the Following Approaches to Decision Making Is Based