Statement (I): Business decision makers deal with the complex, rather chaotic, business conditions of the real world and have to find the way to their destination, i.e., achieving the goal that they set for themselves.
Statement (II): Even without application of economic logic and tools of analysis, business decisions are always rational and real and are not counter productive.
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Correct option is C

The correct answer is (c) Statement (I) is correct while statement (II) is incorrect.
Statement (I) accurately describes the volatile and complex nature of the modern business environment. Decision-makers must navigate "bounded rationality" and external uncertainties to reach organizational objectives. Statement (II) is false because, without economic logic (like marginal analysis or opportunity cost) and analytical tools, decisions are prone to cognitive biases and intuition errors, often leading to counter-productive results.
Information Booster
· Economic Logic: Provides a systematic framework to evaluate trade-offs and resource allocation.
· Rationality: In economics, this assumes actors maximize utility; in reality, this requires data-driven analysis.
· Complexity: Real-world markets involve asymmetric information and shifting consumer behavior.
· Analytical Tools: Techniques like Game Theory or Linear Programming mitigate risks of "gut-feeling" failures.