Asked by leslie perez on Sep 28, 2024

When a consumer expends just enough effort to make a decision that is acceptable but not necessarily optimal,this is called what?

A) Information overload.
B) Heuristics.
C) Cognitive bias.
D) Satisfice.
E) None of these.

Satisfice

A decision-making strategy that aims for a satisfactory or adequate solution, rather than an optimal one.

Optimal

Refers to the most favorable or desirable condition, level, or outcome in a given situation.

Information Overload

The state of being overwhelmed by the vast amount of information available, making it difficult to make decisions or focus.

  • Define and identify various decision-making processes including satisficing.