According to Herbert Simon,what Underlies the "Bounded Rationality" of Human

question 20

Multiple Choice

According to Herbert Simon,what underlies the "bounded rationality" of human thought processes?

• A)the tendency of humans to be too constrained by past experiences.
• B)utilizing deductive reasoning rather than inductive problem-solving techniques.
• C)applying limited resources to situations that require a quick response.
• D)the overwhelming evolutionary significance of language development.

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Definitions:

Competency-Based Pay

A salary system that bases compensation on an employee's skills, abilities, and performance rather than job title or position alone.

Commission Pay

A form of compensation based on a percentage of sales or profits generated by an employee, commonly used in sales roles to motivate performance.

Profit Sharing

Any procedure by which an employer pays, or makes available to all regular employees, in addition to base pay, special current or deferred sums based on the profits of the enterprise

Job Classification System

A system of job evaluation in which jobs are classified and grouped according to a series of predetermined wage grades.