Decision making situations can be categorized along a scale which ranges from ........

Economics- Phase (I & II) Determination of output and employment

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Decision making situations can be categorized along a scale which ranges from:

Uncertainty to certainty to risk

Certainty to uncertainty to risk

Certainty to risk to uncertainty

Certainty to risk to uncertainty to ambiguity

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Explanation:

The four positions on the scale are certainty, risk, uncertainty, and ambiguity. ! Decision making under certainty occurs when a manager knows the precise outcome associated with each possible alternative or course of action. In such situations, there is perfect knowledge about alternatives and their consequences.

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