An external information search is especially important when:
A) there is a great deal of past experience
B) there is a high risk of making an incorrect decision
C) the cost of gathering information is high
D) buying frequently purchased,low-cost items
E) there is little risk of making an incorrect decision

Question

Quizplus · Accepted Answer

When there is a high risk of making an incorrect decision, an external information search becomes crucial. This is because the decision has higher stakes and potential consequences that could result in significant losses. Therefore, gathering information from external sources can help reduce the uncertainty and increase the chances of making a better decision.

An External Information Search Is Especially Important When