A synonym for the word satisfice is maximize. Indicate whether ...

[DelorasTo]

A synonym for the word satisfice is maximize.
 
  Indicate whether the statement is true or false.

Question 2

The expression throwing good money after bad is an example of an escalation of commitment.
 
  Indicate whether the statement is true or false.

[kiamars2010]

Answer to Question 1

Answer: FALSE
Explanation: The words satisfice and maximize are opposites rather than synonyms. When a manager does not have enough information to maximize, or find the best possible solution to a problem, he or she must compromise, or satisfice. When you satisfice, you accept not the best solution, but a solution that is good enough.

Answer to Question 2

Answer: TRUE
Explanation: Throwing good money after bad typically denotes a situation in which money has already been wasted on an unsuccessful venturebad money. Throwing more good money into the situation simply because of the bad money already committed is a clear example of escalation of commitment.