Answer:
Bounded rationality
Explanation:
The term bounded rationality was proposed by Herbert Simon to analyze the decision making process of agents in complex systems. In other words, bounded rationality refers to the decision making of an individual based on the limitation of the information needed to make that decision.
Since Evelyn has limited her research on machine screw suppliers to suppliers in her state only, in order to decide which supplier she will contact, we can say that Evelyn is using bounded rationality
.
<u>Answer:</u>
The factors affecting the attention of an individual along with a temporary characteristics like time pressures or crowded stores are the ‘situational factors’.
<u>Explanation:</u>
- Most individuals who are frequent buyers of commodities choose spending less time on the selection of commodities.
- Such buyers prefer going with the stimuli that is provided by the packaging and the advertisement of the commodity.
- Moreover, such buyers are also intrigued by the crowd in the stores or the time pressure being experienced by them at the given moment.
Answer:
D) All of the above
Explanation:
This theory was created by the Austrian School in order to explain and understand the market growth based on the credit increase proposed by bank institutions (a central bank). In other words, this theory arguments that the economic cycles, especially financial crisis and recession, are caused by the "creation" of the money. How this money will be used and the result of this application is the central concern of this theory.
Answer:
B. Life-cycle.
Explanation:
When Alfonso says, "It would have been tough to be a father at age 21, but being one at age 28 is super," he is noting the important role that life-cycle factors play in human development.
