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Explain the Difference Between Construct Validity and Face Validity

question 21

Essay

Explain the difference between construct validity and face validity. Please provide examples.

Recognize how prospect theory explains human behavior towards risks and rewards.
Identify the influence of anchoring on decision-making.
Grasp the key principles of behavioral economics related to gains, losses, and status quo.
Understand how credit card companies benefit from consumer behavior patterns.

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