The ability to make sound decisions based on one's past experience and immediate feelings about the information at hand is called:
A)Judgment
B)Intuition
C)Bounded rationality
D)Heuristics
E)Satisficing

Question

Quizplus · Accepted Answer

The ability to make decisions based on past experience and immediate feelings is intuition. Judgment involves cognitive processes of weighing options and analyzing information. Bounded rationality refers to decision-making within limitations of time, available information, and cognitive capacity. Heuristics are mental shortcuts used to simplify decision-making. Satisficing is the act of settling for a satisfactory solution rather than searching for the optimal one. Therefore, intuition is the best choice in this scenario.

The Ability to Make Sound Decisions Based on One's Past