A strategy is a choice or a sequence of choices made by a decision maker who has incurred the opportunity cost of that choice which may change based on how rivals react to that choice.

Question

Quizplus · Accepted Answer

This is a correct definition of a strategy. It involves making a choice or a sequence of choices, taking into account the opportunity cost of each choice, and being aware that rival reactions may impact the outcome of the chosen strategy.

A Strategy Is a Choice or a Sequence of Choices