At What Stage During Policy Development Would the Amending,replacing,or Repealing

question 20

Multiple Choice

At what stage during policy development would the amending,replacing,or repealing of policies occur?

• A)Stage 2: Understanding Social Issues and Problems
• B)Stage 3: Consulting and Reviewing
• C)Stage 4: Formalizing Policy
• D)Stage 6: Evaluating Policies

---

Definitions:

Endowment Effect

A psychological phenomenon in which people assign higher value to things merely because they own them.

Loss Aversion

In prospect theory, the property of most people’s preferences that the pain generated by losses feels substantially more intense than the pleasure generated by gains.

Anchoring Effect

A cognitive bias where an individual relies too heavily on an initial piece of information (the "anchor") when making decisions.