Match Each Item with a Statement Below

question 4

Multiple Choice

Match each item with a statement below:

-Where negotiators make a "bet" on the future in order to resolve a potentially difficult issue facing them in the negotiation

• A)making a packed offer
• B)contingent contracts
• C)organizational politics
• D)power stratification
• E)knowledge-based sources of power
• F)cognitively active
• G)confirming evidence bias
• H)fractioning
• I)anchoring
• J)threat rigidity effect

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Definitions:

Economic Costs

The total cost of choosing one action over another, including both explicit costs (direct outlays) and implicit costs (opportunity costs).

Entrepreneur's Talent

The unique set of skills, knowledge, and intuition that an entrepreneur possesses, enabling them to identify, evaluate, and exploit business opportunities.

Annual Lease

A contract that allows for the rental of a property for a period of one year.

Implicit Costs

The opportunity costs of using resources that a company already owns, essentially the income the company could have earned by using these resources in another way.