Mark recognises that he cannot gain all the information about every car available in the market before he makes his purchase decision. So he gathers information until he is satisfied that the information is sufficient to make an informed decision. Mark is most likely to be operating by the model of decision making known as the:
A) active model.
B) cognitive model.
C) passive model.
D) economic model.

Question

Quizplus · Accepted Answer

Mark is operating by the cognitive model of decision making, which acknowledges that individuals have limited capacity to process information and thus make decisions based on satisficing, or gathering enough information to make a decision that is good enough, rather than optimizing every choice.

Mark Recognises That He Cannot Gain All the Information About