What Do Psychologists Call the Condition in Which Commitments to a Failing

question 45

Multiple Choice

What do psychologists call the condition in which commitments to a failing course of action are increased to justify investments already made?

• A) the lost cause effect
• B) the escalation effect
• C) the loss justification effect
• D) the polarization effect

Acknowledge the use of formal education programs in employee development.

Distinguish between training and development and their respective purposes.

Recognize the importance of action planning in career development.

Understand the concepts of a protean career and its implications for personal growth.

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Definitions:

Investing Activities

Financial transactions related to the acquisition or sale of long-term assets and investments not related to the entity's primary business operations.

Financing Activities

Transactions and events where cash is raised or paid back to finance the company's operations, including issuing debt, equity, and paying dividends.

Operating Activities

Transactions and other events that are not investing or financing activities which affect the net income of a company.

Cash Flows

The movement of money into and out of a business, project, or financial product.