The ________ Is the Tendency for People's Choices to Be

question 145

Multiple Choice

The ________ is the tendency for people's choices to be affected by how a choice is presented, such as whether it is worded in terms of potential losses or gains.

• A) availability heuristic
• B) affect heuristic
• C) hindsight bias
• D) framing effect

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Definitions:

Warranty Period

The specific time frame during which a manufacturer or seller commits to repair or replace defective products.

Prevention Cost

Expenses incurred to avoid or minimize the number of defects in products, part of quality costs including training, quality planning, and product design.

Quality Cost Report

A financial statement detailing the costs associated with preventing, detecting, and addressing product or service defects.

Internal Failure Cost

Costs incurred when a product or service fails to meet quality standards before it is delivered to the customer, including scrap and rework costs.