Even Though She Is Not in Desperate Need of Boots

question 17

Multiple Choice

Even though she is not in desperate need of boots, Zanele says that she would rather buy a pair of boots today (for R1 000) rather than wait two weeks, when they will be on sale for half the price.Zanele's decision most likely involves ____.

• A)temporal discounting
• B)risk aversion
• C)the status quo bias
• D)the omission bias

---

Definitions:

Absolute Advantage

The ability of an individual or economy to produce a good or service more efficiently than competitors using the same amount of resources.

Cars

Motor vehicles with four wheels designed primarily for passenger transportation and commonly powered by internal combustion engines.

Absolute Advantage

The ability of an individual, company, or country to produce a good or service more efficiently than competitors, using fewer resources.

Lumber

Lumber that has been manufactured into planks and beams, marking a step in the journey of producing wood products.