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:

GIC's Maturity

The fixed date when a Guaranteed Investment Certificate (GIC) expires and the principal amount is returned to the investor along with the accrued earnings.

Invested

The act of allocating resources, usually money, to generate an income or profit.

Compounded Monthly

The process where interest is calculated and added to the principal sum of an investment or loan on a monthly basis.

Contributions

Payments or services provided by individuals or organizations towards a common goal or benefit.