According to a Behavioural Economist,a Person Who Is Unwilling to Sell

question 83

Multiple Choice

According to a behavioural economist,a person who is unwilling to sell the last kilogram of rice he purchased for the same price that he paid for it is displaying

• A)the endowment effect.
• B)bounded rationality.
• C)bounded self-interest.
• D)bounded willpower.
• E)rational behaviour.

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Definitions:

UCC

Stands for the Uniform Commercial Code, which is a comprehensive set of laws governing commercial transactions in the United States.

Depositor

An individual or entity that places money into a bank account, trusting the bank for safekeeping and potentially earning interest.

Teller's Check

A check drawn by a bank on its own funds and signed by a teller, representing a guarantee of payment, often used in transactions requiring secure funds.

Drawer

The party in a transaction who writes a check or draft, instructing the bank to pay a specified amount of money from the drawer's account.