Herbert Simon Found That in Making Decisions, Most People Satisficed

question 108

Multiple Choice

Herbert Simon found that in making decisions, most people satisficed because they had limited ability to ________.

• A)be truthful and honest in situations that deal with other people
• B)think independently
• C)deal with difficult situations
• D)grasp present conditions and anticipate future conditions

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Definitions:

Foreign Currency Futures

Financial contracts obligating the buyer to purchase, and the seller to sell, a specified amount of foreign currency at a predetermined future date and price.

Euro

The official currency of 19 out of the 27 European Union countries, which is used as a common form of currency in international financial transactions.

British Pound

The official currency of the United Kingdom, also known as GBP (Great British Pound).

Spot Price

The current market price at which a particular asset, like a commodity or currency, can be bought or sold for immediate delivery.