Examlex
If sensation equals raw data,then perception equals ____.
Reference Point
A baseline value or condition used for comparison in decision-making processes.
Risk Aversion
A descriptor for individuals or entities that prefer to minimize exposure to risk and uncertainty, typically opting for safer, more secure investments or choices.
Reference Point
A baseline or standard from which changes are measured, often used in decision-making and behavioral economics.
Consumer Decision
The process by which individuals select goods or services to fulfill their needs and wants.
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