Dealing With Complexity

Question 1

Incentive (ɪnˈsen.tɪv)

Answer 1

something that encouragea personto do something

Question 2

Insight /ˈɪn.saɪt/

Answer 2

aclear,deep, and sometimessuddenunderstandingof acomplicatedproblemorsituation

Question 3

make a killing

Answer 3

to earn a lot of money in a short time and with little effort

Question 4

iterative /ˈɪt.ər.ə.tɪv/

Answer 4

doing something again and again, usually to improve it

Question 5

bounded rationality

Answer 5

ECONOMICS
the theory that people can understand only a limited amount of information within a limited amount of time, and for this reason they do not always make the best decisions, especially in complicated situations:

Question 6

Tractability /ˌtræk.təˈbɪl.ə.ti/

Answer 6

the quality of being tractable (= easily dealt with, controlled, or persuaded)

Question 7

inflated
/ɪnˈfleɪ.tɪd /

Answer 7

Inflatedprices,costs,numbers, etc. arehigherthan they should be, orhigherthanpeoplethinkisreasonable

Question 8

anticipate
/ænˈtɪs.ɪ.peɪt/

Answer 8

to imagine or expect that something will happen

Question 9

Payoff
ˈpeɪ.ɒf

Answer 9

an advantage gained as the result of a decision, series of actions, etc

Question 10

Plea bargain
ˈpli ˌbɑr·ɡən

Answer 10

an agreement to allow someone accused of a crime to admit to being guilty of a less serious crime in order to avoid being tried for the more serious one

Question 11

Joint /dʒɔɪnt/

Answer 11

belonging to or shared between two or more people

Question 12

Equilibrium /ˌek.wɪˈlɪb.ri.əm/

Answer 12

The sate of balance

Question 13

Mbps

Answer 13

Millions of bits per second

Question 14

free rider

Answer 14

a person or company that gets an advantage without paying for it or earning it

Question 15

shorthand

Answer 15

a system of fast writing, using lines and symbols to represent letters, words, and phrases

Question 16

Focal point
/ˌfəʊ.kəl ˈpɔɪnt/

Answer 16

the thing that everyone looks at or is interested in

Question 17

Last Resort

Answer 17

the only choice that remains after all others have been tried

Question 18

Zero-sum game

Answer 18

a situation in which an advantage that is won by one of two sides is lost by the other

Question 19

Pre-emptive
/ˌpriːˈemp.tɪv/

Answer 19

it is done before other people can act, especially to prevent them from doing something else

Question 20

Compelling

Answer 20

making you believe it or accept it because it is so strong

Question 21

War of Attrition

Answer 21

that is fought over a long period and only ends when one side has neither the soldiers and equipment nor the determination left to continue fighting

Question 22

Proponent
/prəˈpəʊ.nənt/

Answer 22

a person who speaks publicly in support of a particular idea or plan of action

Question 23

Elicit

Answer 23

to get or produce something, especially information or a reaction

Question 24

Comply

Answer 24

Consent

Question 25

Audit
ˈɔː.dɪt

Answer 25

to make an official examination of the accounts of a business and produce a report

Question 26

Collusion

Answer 26

Agreement between people to act together secretly illegally in order to deceive or cheat somebody (plotting)

Question 27

Undercut

Answer 27

Charge less than a compete

Question 28

Induction

Answer 28

the process of discovering a general principle from a set of facts

Question 29

Deduction

Answer 29

the process of reaching a decision or answer by thinking about the known facts, or the decision that is reached