Author Question: Susan Archer decided to place an order for raw materials with Weston Steel. She had several other ... (Read 27 times)

iveyjurea · **on:** Jul 21, 2018

Susan Archer decided to place an order for raw materials with Weston Steel. She had
several other alternatives that she did not even evaluate because the Weston price was
within the guidelines she had been given. This is an example of satisficing.

Indicate whether the statement is true or false.

Question 2

Elaine Allen just made a decision about where to invest money that she inherited. She put it
into a bank certificate of deposit because that is where she has always put her savings, and
she is very concerned about the safety of her investment. She was not aware of another
investment that is just as safe and that pays a higher return. Elaine is a victim of bounded
rationality.

Indicate whether the statement is true or false.