Multiple Choice
Which of the following could be a reason for the type of market failure known as government failure?
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0. Basic Principles of Economics
Positive and Normative Analysis
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Which of the following is a stage in the rational model of strategic development?
A
Relying solely on intuition
B
Implementing random decisions
C
Ignoring available information
D
Identifying objectives
Verified step by step guidance1
Understand that the rational model of strategic development is a structured approach to decision-making that involves clear, logical steps.
Recognize that the model typically starts with identifying objectives or goals, which sets the direction for the strategy.
Note that relying solely on intuition, implementing random decisions, or ignoring available information are not part of the rational model, as it emphasizes systematic analysis and informed choices.
Recall that after identifying objectives, the model proceeds with gathering information, generating alternatives, evaluating options, and then making a decision.
Therefore, identifying objectives is a fundamental and initial stage in the rational model of strategic development.
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