People Tend to Make Different Decisions When They Focus on What

question 99

Multiple Choice

People tend to make different decisions when they focus on what they might gain from an action rather than what they might lose. This is an effect of __________

• A) framing.
• B) availability.
• C) representativeness.
• D) additive decision making.

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Definitions:

Consumer Goods

Products and commodities that are bought and used by individuals or households for personal use.

Chapter 7

A provision of the U.S. Bankruptcy Code that deals with liquidation, where a debtor's non-exempt assets are sold to pay creditors.

Liquidation

The process of closing a business and distributing its assets to claimants, often during bankruptcy.

Voluntary

Done, given, or acting of one's own free will without coercion or obligation.