The Value of the Expected Earnings from Using an Item

question 13

True/False

The value of the expected earnings from using an item, discounted at an appropriate rate to give a present-day value, is the economic value.

---

Definitions:

Barnum Effect

The tendency for individuals to see themselves in vague, stock descriptions of personality that could apply to many people.

Barnum Effect

The phenomenon whereby individuals believe that vague, general statements about personality are highly accurate for them personally, often used in psychics and horoscopes.

Consistent Tendency

A regular or habitual pattern of behavior or thought that is reliably observed across different situations and over time.

Shy

A personality trait characterized by feelings of tension and discomfort in social situations.