Herbert Simon Suggested That People Are Not Rational Maximizers but Satisficers

question 202

Multiple Choice

Herbert Simon suggested that people are not rational maximizers but satisficers, meaning that they choose a course of action that is

• A)personally satisfying, with a greater emphasis on personal consumption than on fairness.
• B)socially satisfying, with a greater emphasis on fairness than on personal consumption.
• C)good enough.
• D)risk averse.

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Definitions:

Autocratic Decision-making Style

A leadership approach where decisions are made unilaterally by the leader without input or consultation from members of the group.

Improve Teamwork

Strategies or actions undertaken to enhance the cooperation and efficiency among members of a team to achieve a common goal.

Minimum Wage

The lowest legal amount that an employer can pay their workers per hour.

Motivated

Being driven or encouraged to act towards achieving personal goals or completing tasks.