Continuing to Support a Failing Course of Action Is Known

question 46

Multiple Choice

Continuing to support a failing course of action is known as _____.

• A)path dependency
• B)escalation of commitment
• C)group polarization
• D)participative decision making

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Definitions:

Capital Spending

Expenditure by businesses on physical assets like buildings, machinery, and equipment to enhance their capacity or efficiency.

Privatization

The process of turning government enterprises into private enterprises.

U.S. Economy

The economic system of the United States, characterized by a mixed economy with private freedom combined with centralized economic planning and government regulation.

Marginal Propensity

The proportion of an additional amount of income that is used for consumer spending. It's a key concept in understanding how income changes affect spending.