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Questions and Answers
What is game theory?
What is game theory?
- A mathematical framework for analysing decision-making involving multiple parties (correct)
- A method for predicting the stock market
- A psychological framework for understanding individual decision-making
- A set of rules and regulations for strategic behaviour
In which fields is game theory widely used?
In which fields is game theory widely used?
- Environmental science, sociology, and anthropology
- Art, literature, and music
- Economics, political science, psychology, and other fields (correct)
- Medicine, engineering, and technology
What is a key factor to consider in operations strategy?
What is a key factor to consider in operations strategy?
- Ignoring the role of employees in operations
- Establishing goals for every operation (correct)
- Maximizing profits at any cost
- Implementing strict rules for employees
How can having the right employees impact operations?
How can having the right employees impact operations?
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What can game theory be used to predict?
What can game theory be used to predict?
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