People Tend to Say That They Would Prefer to Have

question 32

Multiple Choice

People tend to say that they would prefer to have R1 000 today rather than R1 200 two weeks from now - even though, logically, they would be better off with the R1 200 in two weeks.The phenomena underlying this tendency is known as ____.

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

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Definitions:

Goodwill

An intangible asset that represents the value of a company's brand, customer relations, employee morale, and other factors that improve the company's reputation.

Recipient's First Name

The given name of an individual who is the intended receiver of a message or item.

Apologize

Expressing regret or sorrow for having done something wrong or causing inconvenience.

Message

The information or main idea that is communicated by a speaker, writer, or any form of media to the audience.