According to MANAGER'S SHOPTALK in Chapter 9, All of the Following

question 53

Multiple Choice

According to MANAGER'S SHOPTALK in Chapter 9, all of the following are cognitive biases that can affect manager's judgment.

• A) being influenced by initial impressions
• B) justifying past decisions
• C) seeing what you don't want to see
• D) perpetuating the status quo
• E) overconfidence

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Definitions:

Adaptable

The ability to adjust or modify oneself or processes to suit different conditions or environments.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two goods, given a set of inputs and technology.

Immigrants

People who come to live permanently in a foreign country from their country of origin.

Pure Capitalism

An economic system characterized by the private ownership of resources and the use of prices to coordinate economic activity in unregulated markets.