1: The elements of a decision problem are:

1) The values of the stakeholder in the decision.

2) The number of stakeholders in the decision.

3) The stakeholder demographics (age, education, socioeconomic status, etc.).

4) The objectives of the stakeholders in the decision

a) 2 and 4

b) 1 and 4

c) 1, 2 and 4

d) All of above

2: Decisions are hard because

1) The the situation has important consequences to consider.

2) The situation has uncertainty.

3) The situation may have more than one perspective.

4) Calculating NPV for the situation is difficult.

a) 2, 3 and 4

b) 2 and 3

c) 1, 2 and 3

d) All of above