A Father Is Planning to Give Some Extra Pocket Money

question 51

Multiple Choice

A father is planning to give some extra pocket money to his 12-year-old son. He asks his son if he would like the amount right now or if he would rather wait for a week, which is around the time his school is organizing a picnic. The son chooses to take the allowance right away rather than wait for a whole week. This scenario is an example of _____.

• A)the capacity to delay gratification
• B)error management theory
• C)the omission bias
• D)temporal discounting

---

Definitions:

Competitive Challenges

The obstacles or difficulties faced by organizations in attempting to gain advantage or achieve success in a competitive market.

HR Management

The practice of recruiting, hiring, deploying, and managing an organization's employees, aimed at maximizing employee performance and well-being.

Transnational Strategy

A strategic approach used by multinational corporations that seeks to achieve global efficiency, local responsiveness, and worldwide learning, leveraging global integration and local adaptation.

Scale Economies

Economic efficiencies that arise due to the increased output or size of an operation, leading to a reduction in average costs.