Products Can Be Goods, Services, or Ideas

question 78

True/False

Products can be goods, services, or ideas.

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Definitions:

Anchoring And Adjustment

A cognitive bias in which an individual relies too heavily on an initial piece of information (anchor) to make subsequent judgments or decisions.

Availability

The state of being readily obtainable or accessible when needed or desired.

Projection

A psychological defense mechanism where an individual attributes their own unacceptable thoughts, feelings, or motives onto someone else.

Representativeness

A cognitive heuristic in decision-making, where the similarity of objects or events is used to infer the probability of an event or the categorization of an object.