When a Manager Immediately Hires the Person He/she Feels Is

question 114

Multiple Choice

When a manager immediately hires the person he/she feels is "good enough," they are employing what decision-making process?

• A)intuitive decision making
• B)satisficing
• C)heuristics
• D)bounded rationals
• E)reflexivity decision-making

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Definitions:

Price Ceiling

A government-imposed limit on how high a price is charged for a product, aimed at preventing prices from reaching levels deemed too high.

Price Floor

A government or group-imposed price control or limit on how low a price can be charged for a product. It is aimed at preventing prices from being too low.

Shortage

refers to a situation where the demand for a product or service exceeds the supply available at a specific price.

Surplus

The condition where quantity supplied exceeds quantity demanded, often leading to a decrease in prices.