The State Highways Should Have 8 M Wide Carriage-Way with 2

question 13

Multiple Choice

The State Highways should have 8 m wide carriage-way with 2 m wide shoulder on each side

• A)Right
• B)Wrong

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Definitions:

Framing Effects

The influence on an individual's decision-making caused by the way information is presented, rather than just the information itself.

Status Quo

The existing state of affairs; in prospect theory, the current situation from which gains and losses are calculated.

Utility

A measure of satisfaction or value that consumers receive from consuming goods and services.

Endowment Effect

The tendency people have to place higher valuations on items they possess (are endowed with) than on identical items that they do not possess; perhaps caused by loss aversion.