Liastem, a company that manufactures machinery parts, required Computer Numerical Control (CNC) machines for production. The company bought old CNC machines and modified them to meet company requirements because it could not afford fully-automatic, new CNC machines. This scenario best illustrates the concept of .

Satisficing

Explanation:  

 The satisficing is one of the concept that helps in the making the various types of decisions based on the given situation and it also helps increase the profit by supporting the business management.

The satisficing is one of the important approach that helps in providing the satisfactory solutions and also effectively managing the operations and the functions.

According to the given scenario, the given concept is best illustrating about the satisficing as the company cannot afford the new fully automatic machines so they decided to modifying the existing machines based on the requirement the firm.

 Therefore, Satisficing is the correct answer.

forbearance of student loan payments. under forbearance, your loan payments are postponed (or reduced) but interest continues to accrue during the period of forbearance. if you don't pay the interest during that period, the interest may be “capitalized,” which means it is added to your principal balance.

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