The correct answer is: B. constraints
A constraint is a limitation or restriction that prevents something from happening or being done. In the context of decision-making, constraints can be imposed by the firm itself or by its environment. For example, a firm may have a constraint on the amount of money it can spend on a new project, or it may have a constraint on the amount of time it has to complete the project. Environmental constraints can include things like the availability of resources, the competition, and the regulatory environment.
Parameters are the values that define the limits of a system. For example, the parameters of a physics problem might be the mass of the objects involved, the initial velocity of the objects, and the force of gravity. Constructs are mental representations of objects or events. For example, a person might have a construct of a “perfect” job. Perimeter is the boundary of a closed figure. For example, the perimeter of a square is the length of its sides added together.
In conclusion, the limits imposed by the firm itself or its environmental on the decision maker are called constraints.