Which Concept Is a Type of Mental Set Where You

question 41

Multiple Choice

Which concept is a type of mental set where you cannot perceive an object being used for something other than what it was designed for?

• A) anchoring bias
• B) functional fixedness
• C) hindsight bias
• D) representative bias

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Definitions:

Materials Quantity Variance

This measures the difference between the actual amount of materials used in production and the standard amount expected to be used, based on the level of output.

Standard Quantity

The benchmark or predetermined amount of materials expected to be used in the production of a good or service.

Actual Materials

The physical and actual quantities of materials used in the production process.

Standard Price

A predetermined cost assigned to materials, labor, and overhead, used in budgeting and variance analysis.