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      Question

      Which of the following decision theory is concerned with

      how people actually make decision?
      A Normative models Correct Answer Incorrect Answer
      B Descriptive models Correct Answer Incorrect Answer
      C Prescriptive models Correct Answer Incorrect Answer
      D Declarative models Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Normative models suggest how people should make decisions while descriptive models describe how people actually make decisions. Descriptive models introduce the concept of satisficing.

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