Match Each Definition with the Appropriate Term

question 83

Multiple Choice

Match each definition with the appropriate term.
-a problem-solving strategy guaranteed to produce a solution even if the user does not know how it works

• A)hindsight bias
• B)confirmation bias
• C)heuristic
• D)mental set
• E)algorithm

---

Definitions:

Implied Warranties

Unwritten guarantees that ensure products or services meet certain standards of quality and reliability, even though not explicitly stated.

Disclaim

A legal term used when one renounces their right or claim to something, often to avoid liability.

Truth-in-Lending Act

A legislation at the federal level aimed at encouraging the knowledgeable use of consumer credit through mandated disclosures regarding its conditions and expenses.

Reasonable Rate

A fair or acceptable price or cost for goods, services, or obligations, often influenced by market conditions or regulation.