Upon Finding Your Old Report Cards,you're Surprised That You Were

question 84

Multiple Choice

Upon finding your old report cards,you're surprised that you were just an average student in grade school rather than the "A" student you remember being.What best accounts for this discrepancy?

• A)The overconfidence phenomenon
• B)Counterfactual thinking
• C)Rosy retrospection
• D)Hindsight bias

---

Definitions:

Downward-Sloping Demand

The economic concept that, all else being equal, as the price of a good decreases, consumer demand for that good will increase.

Public Ownership

The ownership of assets by the government or the entire community rather than by private individuals or corporations.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets.

Antitrust Laws

Legislation enacted to prevent monopolies and promote competition among businesses, ensuring fair market practices and consumer protection.