Anchoring Heuristic Comes into Play When Consumers Base Their Predictions

question 2

True/False

Anchoring heuristic comes into play when consumers base their predictions on the quickness and ease with which a particular example of an outcome comes to mind.

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Definitions:

Source of Motivation

Elements or factors that stimulate desire and energy in people to be continually interested and committed to a job, role, or subject.

Security

A state of being free from danger or threat, often involving measures to protect physical, digital, or financial assets.

Good Retirement Plan

A financial strategy designed to provide individuals with income or benefits upon retirement, ensuring financial security and stability during one's retirement years.

Maslow's Need

Refers to the hierarchical levels of human needs outlined by Abraham Maslow, ranging from basic physiological needs to self-actualization.