A Speaker Can Damage Their Credibility by _______

question 5

Multiple Choice

A speaker can damage their credibility by _______.

• A)using personal experience as fact
• B)using exclusive language
• C)using jargon the audience is unfamiliar with
• D)all of the above

Understand the concept of indifference curves and how they illustrate consumer preferences.

Grasp the significance of budget constraints in consumer choice.

Understand how changes in prices and income affect consumer's choices and utility maximization.

Recognize the economic rationale behind non-cash gift-giving and its impact on utility.

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Definitions:

Sunk-Cost Fallacy

A cognitive error where past investments of time, effort, or money are taken into account when making a decision, even though they cannot be recovered.

Loss Aversion

The tendency to strongly prefer to avoid losses compared to attempting to acquire gains.

Hindsight Bias

The inclination to see events as having been predictable, after they have already occurred.

Confirmation Bias

The inclination to seek out, understand, prefer, and remember data in a manner that affirms someone's already held beliefs or assumptions.