One Major Consequence of the Framing Effect Is That

question 150

Multiple Choice

One major consequence of the framing effect is that

• A)people may spend more to insure themselves against rare events but leave themselves uninsured against more common events.
• B)someone could persist in pursuing a failed policy despite overwhelming evidence of the failure.
• C)major business projects may create bottlenecks in the organization because they are not completed as scheduled.
• D)decision makers may make faulty decisions if they are lulled by the environment in which they are making their decisions.

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Definitions:

Opportunities

Circumstances or situations that present potential for growth, improvement, or benefit, often requiring timely action to capitalize on them.

Grand Strategy

A comprehensive, long-term plan of essential actions by which an organization seeks to achieve its major objectives.

Mission Statement

A concise declaration describing the aspirations and ethics of an enterprise, organization, or person.

General Explanation

A broad description or clarification that applies to a wide range of phenomena or situations, often used to simplify complex concepts.