"Satisficing" rather than "maximizing" primarily emerges under conditions where
A)information is costly.
B)management lacks ambition.
C)profit maximization is rejected on moral grounds.
D)risk is minimal.

Question

Quizplus · Accepted Answer

When information is costly, it becomes difficult to gather all the information needed to make the best decision. This results in managers settling for a satisfactory decision rather than spending more time and resources to find the optimal decision. Hence, "satisficing" emerges under conditions where information is costly.

"Satisficing" Rather Than "Maximizing" Primarily Emerges Under Conditions Where