The Tendency to Mold Our Interpretation of the Past to Fit

question 9

Multiple Choice

The tendency to mold our interpretation of the past to fit how events actually turned out is called ​

• A)projection.
• B)reaction formation.
• C)the hindsight bias.
• D)self-enhancement.

---

Definitions:

R&D Effort

Research and Development effort refers to the activities companies undertake to innovate and introduce new products or services.

High Concentration

Refers to a market situation where a small number of firms hold a large market share, indicating less competition.

Creative Destruction

A process in which technological innovation and progress lead to the phasing out of older industries, products, or methods, fostering new growth.

New Products

Items that have been recently introduced to the market, offering new benefits or improvements over previous versions or filling a previously unmet need.