Herbert Simon, One of the First Social Scientists to Combine

question 445

Multiple Choice

Herbert Simon, one of the first social scientists to combine the study of economics and psychology, suggested that humans should be viewed as

• A)rational maximizers.
• B)satisficers.
• C)independent thinkers.
• D)signalers.

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Definitions:

Performance

The act of carrying out or accomplishing tasks, goals, or objectives, often measured against known standards or objectives.

Salespersons

Individuals employed to sell products or services to customers, often working on commission and responsible for meeting sales targets.

Variable Costing

An accounting method that only includes variable production costs (materials, labor, and overhead) in the cost of goods sold and inventory valuation.

Manufacturing Firms

Companies that use labor, equipment, and raw materials to produce finished goods.