Satisficing Occurs When Decision Makers ________

question 92

Multiple Choice

Satisficing occurs when decision makers ________.

• A) evaluate all the possible courses of action and their consequences and select the optimal solution
• B) try to minimize conflict and reach a consensus without critical evaluation of alternative ideas or viewpoints
• C) view two options as more dissimilar when evaluating them simultaneously than when evaluating them separately
• D) conduct limited information searches to identify problems and alternative solutions

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Definitions:

Firm's Profits

The financial gains that a company makes after subtracting all its costs from its total revenues.

Human Capital

Proficiencies, education, and experiences attributed to an individual or a group, appraised concerning their fiscal value or expense to a business entity or a national economy.

Social Processes

Patterns of interaction between individuals and groups that shape society and social change over time.

Political Processes

The methods and actions through which political decisions, policies, and laws are formed, decided, and implemented.