Which of the Following Decision-Making Biases Are People with High

question 34

Multiple Choice

Which of the following decision-making biases are people with high and low levels of intelligence likely to fall prey to?

• A)overconfidence bias
• B)hindsight bias
• C)availability bias
• D)confirmation bias

---

Definitions:

Market Segments

Specific groups within a market, distinguished by their unique needs, preferences, or demographic profiles, which businesses target with tailored products or services.

Break-even Chart

A graphical representation that shows when a business will be able to cover all its expenses and start generating a profit, based on varying levels of output or sales.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums, over a specified period.

Variable Costs

Costs that vary in direct proportion to changes in the level of production or sales volume, such as raw materials and labor.