An Unwillingness to Give Up Our Beliefs Even When the Evidence

question 193

Multiple Choice

An unwillingness to give up our beliefs even when the evidence proves us wrong is called

• A) the availability heuristic.
• B) trial and error.
• C) belief perseverance.
• D) confirmation bias.

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Definitions:

Fiscal Year

A one-year period used by governments and businesses for accounting and financial reporting purposes, which may not coincide with the calendar year.

Economic Decision Makers

Individuals or entities that make choices regarding the allocation of resources, investment, and production within an economy.

Economics

The social science concerned with the production, distribution, and consumption of goods and services.

Price Received

The amount of money a seller gets after the sale of a product or service, accounting for discounts, taxes, and additional charges.