When Sociologists Look at Globalization

question 6

Multiple Choice

When sociologists look at globalization

• A)they agree that it is a major revolution in the way people live.
• B)they are in agreement that is transforming society in very positive ways.
• C)most see the world becoming "flat" as a good thing.
• D)there is considerable debate about what it is and what it will create.

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Definitions:

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.

Loss Aversion

Oversensitivity to loss, leading to an unwillingness to recognize a loss and move on.

Mental Accounting

The habit of mentally assigning dollars to different accounts so that some dollars are worth more than others.

Overconfidence

The phenomenon where an individual's subjective confidence in their judgments is reliably greater than their objective accuracy.