Asked by Derek Lehan on May 26, 2024
Verified
Satisficing refers to making the best possible decision that can be made.
Satisficing
A decision-making strategy that involves choosing an option that meets a minimum level of satisfaction rather than optimizing.
Best Possible Decision
The most favorable outcome derived from available alternatives, taking into account all known information, restrictions, and goals.
- Understand the concept of satisficing and its role in decision making.
Verified Answer
ZK
Zaeem KadiwalaMay 28, 2024
Final Answer :
False
Explanation :
Satisficing refers to the strategy of seeking a satisfactory solution rather than the optimal one, especially when dealing with complex problems or under time constraints.
Learning Objectives
- Understand the concept of satisficing and its role in decision making.
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