The "Race to the Bottom" Refers to

question 70

Multiple Choice

The "race to the bottom" refers to

• A) The decline in quality of goods produced by many companies
• B) The decline in profits experienced by many companies during the economic crisis of 2008-10
• C) The drop of business ethics, correlating with a rise in white collar crime.
• D) Manufacturers outsourcing work to the location where they can pay the lowest possible wages

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Definitions:

Base-Rate Information

Statistical information that represents the prevalence or general occurrence of a particular trait, behavior, or event within a larger population.

Availability Heuristic

An instinctive mental tactic that uses the nearest instances that surface in thought while considering a certain topic, theory, strategy, or judgment.

Base-Rate Information

Base-rate information refers to the statistical likelihood of an event or characteristic within a given population, used in decision-making processes.

Stroop Effect

A demonstration of cognitive interference where the brain's reaction time slows down when processing conflicting information, such as reading the word "green" printed in red color.