Herbert Simon Has Concluded That Decision Making in Industry Is

question 186

Multiple Choice

Herbert Simon has concluded that decision making in industry is often best described as

• A)optimizing behavior.
• B)profit maximizing.
• C)satisficing.
• D)saturating.

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Definitions:

Period Costs

Costs that are expensed in the period they are incurred rather than being capitalized or included in the cost of goods sold, such as selling, general, and administrative expenses.

Selling

The process of promoting and exchanging goods or services for value.

Administrative

Pertaining to the activities involved in the management, governance, or organization of a business, typically those responsible for enforcing policies and making decisions.

Operating Expenses

Costs associated with running a business's core operations on a day-to-day basis, excluding the cost of goods sold.