Jerry Starts His Own Business Even When He Is Advised

question 85

Multiple Choice

Jerry starts his own business even when he is advised by family and friends that it is not a suitable opportunity. His friends feel that the market is uncertain and a new entry at this juncture is inadvisable. Jerry soon realizes that his friends were right and he should have taken their advise. In spite of himself, he is forced to admit that the market situation is such that it would take more than being a good entrepreneur to survive. Which of the following is Jerry experiencing?

• A) exploitation
• B) anchoring
• C) information bias
• D) illusion of control
• E) reactance

---

Definitions:

Business Practices

The customary, habitual methods, and strategies employed by businesses to conduct commerce, enhance profitability, and ensure legal compliance.

Silent Studio System

An organizational and production model for making films during the silent era, characterized by a hierarchical structure controlling filmmaking processes and creative talent.

Three-strip Technicolor

A pioneering color filmmaking process that used three separate film strips to capture the red, green, and blue color components, known for its vibrant color reproduction.

Feature-film

A full-length film intended as the main attraction of a cinema viewing, typically running longer than one hour.