Simon Found That in Making Decisions, Most People Satisficed Because

question 147

Multiple Choice

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:

Salaries

Regular payments made by employers to employees, usually monthly or bi-weekly, for their work or services.

Economic Theory

A set of principles and methodologies that explain and predict economic phenomena.

Market Rate

The average or standard amount of money paid for a particular job in the labor market.

CPI Rate

The Consumer Price Index (CPI) rate measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.