If Someone Settles on an Alternative That Is "Good Enough

question 113

Multiple Choice

If someone settles on an alternative that is "good enough" because it meets the minimum requirements of the situation, this is known as

• A)rational decision making.
• B)framing.
• C)satisficing.
• D)heuristics.
• E)intuition.

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Definitions:

Maker

In the context of negotiable instruments, the party who creates and signs the instrument, committing to pay the amount specified to the payee.

Drawer

A person who writes or signs a cheque or draft, instructing a bank to pay a specified amount of money from the person's account.

Presentment

The formal presentation of a document, such as a bill of exchange, for acceptance or payment.

Demand

The consumers' willingness and ability to purchase goods or services at a given price.