The Principle That People Have Limited Ability to Collect and Process

question 32

True/False

The principle that people have limited ability to collect and process information, to choose between their competing wants, and to work out the consequences of their actions is known as bounded rationality.

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Definitions:

Performance

The act of carrying out a task or function, commonly evaluated in terms of its efficiency, effectiveness, and quality.

Being Proactive

Taking initiative by acting in advance of a future situation, rather than just reacting, to achieve positive outcomes.

Monitoring

The continuous and systematic process of tracking, analyzing, and responding to information or trends related to a specific topic, organization, or project.

Reacting

The process of responding or adjusting to stimuli, events, or actions, often implying a spontaneous or immediate response without prior planning.