An Example of a Reference Point Is the Fact That

question 59

Multiple Choice

An example of a reference point is the fact that individuals tend to:

• A) value an item more when they own it.
• B) value an item more when they do not own it.
• C) value an item the same, whether they own it or not.
• D) value an item more when the lose it.

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Definitions:

Stable

Characterized by consistency, reliability, and a lack of significant change or volatility over time.

Normative Life Events

In the timing-of-events model, commonly expected life experiences that occur at customary times.

Social Clocks

Societal expectations regarding the appropriate timing for major life milestones, such as education, marriage, parenthood, and retirement.

Society's Expectations

The norms, values, and roles that a community anticipates its members to adhere to.