Olga is house hunting in a "hot" market.Some homes sell within hours of listing.Olga finds one that meets her minimum criteria and immediately makes an offer.This is an example of
A) satisficing.
B) equifinality.
C) bounded efficiency.
D) optimization.
E) nominal decision making.

Question

Quizplus · Accepted Answer

Olga has found a home that meets her minimum criteria and immediately makes an offer, which suggests that she is satisficing - choosing the first option that meets her minimum standards rather than optimizing (finding the best possible option) or engaging in nominal decision making (making a decision based solely on the label or name of the option). Bounded efficiency and equifinality do not apply to this situation.

Olga Is House Hunting in a "Hot" Market