___ Refers to a Tendency to Continue Investing Time, Money

question 61

Multiple Choice

___ refers to a tendency to continue investing time, money, and energy in something despite evidence that it is not working.

• A) Sunk cost
• B) Negativity bias
• C) Overconfidence
• D) Escalating commitment

---

Definitions:

Franchising

A method of doing business wherein a franchisor licenses trademarks and proven methods of doing business to a franchisee in exchange for a recurring payment, and usually a percentage of gross sales or gross profits as well as the annual fees.

Indirect Exporting

The process of selling products to a foreign market through an intermediary, such as an export trading company or an export management company, rather than directly to the consumer or retailer.

Direct Exporting

A method of entering a foreign market by selling goods directly to customers in another country, bypassing any intermediaries.

Back Translation

The process where a text is translated from one language to another and then translated back to the original language by a different translator to check for accuracy.