Betty runs a boutique. She buys semi-automatic sewing machines for her tailors because she cannot afford the fully automatic ones. This scenario best illustrates the concept of _____.

Question

Quizplus · Accepted Answer

Satisficing is a decision-making strategy that involves selecting an option that is satisfactory or "good enough" rather than trying to optimize for the best possible outcome. In this scenario, Betty buys semi-automatic sewing machines for her tailors because she cannot afford fully automatic ones, indicating that she is satisficing by selecting the option that is good enough for her needs and budget.

Betty Runs a Boutique