Which Statement Would NOT Be Ascribed to Herbert Simon

question 298

Multiple Choice

Which statement would NOT be ascribed to Herbert Simon?

• A) Proprietors of firms are not completely and perfectly rational.
• B) Proprietors do not always act to maximize profits.
• C) Economists should study conditions actually found in the marketplace.
• D) When firms do not have access to full information, they still act in order to maximize profits.

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Definitions:

Honesty

The quality of being fair, truthful, and sincere in one's actions, communications, and business dealings.

Need Awareness Phase

The initial stage in the buying process where a potential customer recognizes they have a problem or need that could be satisfied by a product or service.

Know Anything

The capability or act of understanding, learning, or being aware of information without limitations.