One of the Reasons People Use Satisficing Rather Than Maximization

question 61

True/False

One of the reasons people use satisficing rather than maximization when making decisions is that it takes more information processing capacity than people possess or are willing to use to choose the best alternative.

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Definitions:

Internal Data Sources

Data collected from within an organization, used for decision-making, including sales records, financial data, and customer interactions.

External Data Sources

Sources of data that come from outside an organization, providing additional insights or information that aids in decision-making.

Information Technology

The use of computers, storage, networking, and other physical devices, infrastructure, and processes to create, process, store, secure, and exchange all forms of electronic data.

Buying Queries

Questions or inquiries made by potential customers before making a purchase decision.