You Started an Online Business Two Weeks Ago

question 46

Multiple Choice

You started an online business two weeks ago. Thus far, you have averaged ten sales a day, which is one sale for every five hits. You are now considering giving up your day job and becoming a full-time online retailer. You have calculated the amount of income you can earn based on ten sales a day and know that level of income would support you in a comfortable fashion. The belief that you will have ten sales per day if this becomes your full-time occupation is based on which one of the following?

• A) Mental accounting
• B) Anchoring and adjustment
• C) Law of small numbers
• D) Bubble and crash theory
• E) Confirmation bias

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Definitions:

Status Differences

Variations in rank, standing, or prestige among members of a group or society that affect interactions and relationships.

Recruiting Services

Specialized services focused on attracting and selecting candidates for employment positions within organizations.

Referrals

Recommendations or transfers to another professional or service for further assistance or specialized treatment.

Newspaper Ads

Advertisements published in newspapers to reach a wide audience with various marketing messages.