_________Occurs When Managers Choose an Alternative That Is Good Enough

question 58

Multiple Choice

_________occurs when managers choose an alternative that is good enough, rather than the best possible alternative.

• A) Maximizing
• B) Optimizing
• C) Availability bias
• D) Negative frame
• E) Satisficing

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Definitions:

Low Demand

Refers to a situation where the market's desire for a product or service is lower than the supply.

Low Value Items

Products or materials that have a relatively low cost or worth compared to other items in an inventory or catalogue.

Total Cost

The complete expense incurred for producing, maintaining, and selling a product or service, including fixed and variable costs.

Responsiveness

The ability of an organization, individual, or system to quickly and effectively adapt or react to changes, requests, or stimuli.