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 p
re-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 _______________.
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.
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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There are seven major levels of classification: Kingdom, Phylum, Class, Order, Family, Genus, and Species. The two main kingdoms we think about are plants and animals.
In an economic system with monopolies and cartels that fix the price of goods, the end result for consumers is that consumers are given worse choices and pay a higher price. This is a result of the lack of competition in the market that would drive prices down and offer more choices to consumers.
