Question
______ is a decision-making process in which an
individual makes a choice that is satisfactory rather than optimal.Solution
Satisficing is a decision-making process in which an individual makes a choice that is satisfactory rather than optimal.2 It would require a great deal of effort – and may not even be possible – to gather all the necessary information in order to make the best decision, and satisficing thus represents the kinds of decisions we are actually capable of making. Satisficing is all about making ‘good enough’ decisions instead of perfect ones.
Which dignitary inaugurated the 'Saushrutam 2024' seminar?
Which organization is supporting the third phase of the Thalassemia Bal Sewa Yojana as part of their Corporate Social Responsibility initiative to comme...
According to the Worldwide Cost of Living Index 2021 released by the Economist Intelligence Unit (EIU), which is the world’s most expensive cities...
What is the primary objective of the Global Initiative for Academic Network (GIAN) to support academia in India?
What significant certification was awarded to Infosys for its Artificial Intelligence Management System?
Which three Indian ports have been designated as Green Hydrogen Hubs under the National Green Hydrogen Mission?
When is National Education Day celebrated in India?
What is the objective of the Coal India Lok Sewa Protsahan Yojana launched by Pralhad Joshi?
Recently who has become the first woman officer to join the Army Aviation Corps as a Combat Aviator?
What is the key focus of the new shipbuilding and repair facility at Kandla Port?
Relevant for Exams:
