When Confronted with an Overwhelming Number of Facts and Figures,most

question 54

Multiple Choice

When confronted with an overwhelming number of facts and figures,most people simply make decisions based on "gut" feelings.For example,when buying a car,many people will bypass the process of comparing and contrasting all the particular cars from a certain category and buy the one that "feels" right.This tendency is best explained by which concept?

• A)Logistics
• B)Hierarchial thinking
• C)Intuition
• D)Heuristics

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Definitions:

Economic Reasons

Factors or motivations grounded in economics that explain certain behaviors, decisions, or trends.

Interest Rate

The percentage charged by a lender to a borrower for the use of assets, expressed as a percentage of the principal.

Project Cost

The total financial expenditure incurred in the planning, execution, and completion of a project.

Returns

The gains or losses made from an investment over a particular period, often expressed as a percentage of the investment's initial cost.