Profit satisficing
- Levels: AS, A Level, IB
- Exam boards: AQA, Edexcel, OCR, IB, Eduqas, WJEC
This revision presentation looks at profit satisficing as an alternative objective for businesses. Why might firms satisfice? What are some of the possible consequences for economic welfare and efficiency?
- Economics
- Student videos
- Satisficing
- Heuristics
- Bounded rationality
- Managerial objectives
- Business objectives
- Conflicting Objectives
- Performance related pay (PRP)
- Incentive scheme
- Stakeholders
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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