Question

Juan was ready to purchase a new car and was excited by the prospect. To prepare for this​ event, Juan went to the bank to be​ pre-approved for a​ loan, visited local dealerships to look at cars and​ prices, narrowed down the cars he​ liked, and then purchased the one that had the lowest price. This would be an example of​ _______________.

Answer 1

Answer:

Satisficing

Explanation:

Juan was ready to purchase a new car and was excited by the prospect. To prepare for this​ event, Juan went to the bank to be​ pre-approved for a​ loan, visited local dealerships to look at cars and​ prices, narrowed down the cars he​ liked, and then purchased the one that had the lowest price. This would be an example of satisficing.

Answer 2

Answer:

Satisficing

Explanation:

According to my research on pre-approved loans, I can say that based on the information provided within the question the situation that Juan is in would be an example of the term known as  Satisficing. This is a decision-making strategy has to do with searching through the available alternatives until an acceptability option is found.

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