Question
As per Herbet Simon’s bounded rationality theory,
the decision made is ______ in nature.Solution
According to Simon, because of bounded rationality, the decision made is ‘satisficing’ in nature i.e. they only satisfy and suffice but not maximise. Thus, a decision maker is looking for a satisfactory solution for a problem in the given situation and the constraints and not for the ideal solution as that may lead to an endless search.
With reference to Poverty Gap Ratio, consider the following statements;
1. The poverty gap ratio is the mean shortfall of the total population ...
There has been a persistent deficit budget year after year. Which action/actions of following can be taken by the Government to reduce the def...
Which of the following option is incorrect about “Rajiv Gandhi Shramik Kalyan Yojana”?
Fruits and seeds have a high concentration of which of the following plant hormones?
The speed of the stream is 10 km/h. Boat ‘A’ covers 60 km distance against the stream in 6 hours and boat ‘B’ covers 120 km distance against the...
Bharat Heavy Electricals Limited was registered as Heavy Electricals (India) Limited (HE(I)L) in the Public Sector under the Ministry of Industry and Co...
Red Data book is the source book which keeps a record of:
The general direct flow of summer monsoon in India is
Which of the following is incorrect regarding EPFO?
India’s 1st mRNA based COVID-19 vaccine is developed by which of the following?
Relevant for Exams:
