Economics B A-Level
Satisficing
What Satisficing means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Satisficing
Check what you remember
Read the wording for your board, then hide it and explain Satisficing in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Involves making just enough profit to keep stakeholders happy while pursuing other goals.
Topics that use Satisficing
- Business objectives (Pearson Edexcel A-Level)
Related terms
- Market share
- Principal-agent problem
- Profit maximisation
- Return on investment (ROI)
- Sales maximisation
- Survival
- Cost efficiency
Using Satisficing in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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