The Cost-Benefit Trade-Off Is Best Summarized As

question 24

Multiple Choice

The cost-benefit trade-off is best summarized as:

• A)the concept of comparing the benefits of an action with the costs of the action.
• B)the concept of measuring all costs and benefits in dollars.
• C)the concept of recording all necessary costs to obtain the desired benefits.
• D)the cost of ensuring that costs are always equal to benefits.

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Definitions:

Effort Justification

Effort justification is a concept in social psychology that explains the tendency of individuals to attribute a greater value to an outcome they had to put effort into achieving, compared to an easily attained outcome.

Confirmation Bias

Confirmation bias is the tendency to search for, interpret, and recall information in a way that confirms one’s preexisting beliefs or hypotheses.

Transference

In psychotherapy, the process by which patients project feelings about important people in their lives onto the therapist.

Systematic Desensitization

A therapeutic method aimed at assisting individuals in overcoming fears and anxiety disorders by progressively exposing them to the object or situation they fear in a regulated way.