You Are Looking to Buy a New Smart Phone and Have

question 29

Multiple Choice

You are looking to buy a new smart phone and have come to the conclusion that an iPhone is probably the best. So when you see an ad in a magazine for a Samsung, you just turn the page an ignore it. This probably reflects the operation of

• A)gathering empirical evidence
• B)mental shortcuts
• C)critical thinking
• D)confirmation bias
• E)a self-correcting bias

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Definitions:

Suppliers Availability

The readiness and ability of suppliers to provide the necessary goods and services as demanded by the purchasing organization.

Transportation Services

Services that include the movement of goods and people from one location to another using various modes of transport.

Infrastructure

The fundamental facilities and systems serving a country, city, or area, including the services and facilities necessary for its economy to function, such as transportation and communication systems, water and power lines.

Fixed Costs

Expenses that do not change with the level of goods or services produced, such as rent, salaries, and equipment leases.