Choosing an alternative that meets minimum standards of acceptability is a form of
A) purposive rationality.
B) bounded rationality.
C) instrumental rationality.
D) subjective rationality.

Question

Quizplus · Accepted Answer

Choosing an alternative that meets minimum standards of acceptability, even if it is not the best option, is an example of bounded rationality. Bounded rationality is the idea that decision-making is limited by factors such as time, cognitive capacity, and available information, so people often make decisions that are "good enough" rather than trying to find the best possible option. Therefore, the best answer is B.

Choosing an Alternative That Meets Minimum Standards of Acceptability Is