Scenario 14.1 A Worker in Firm a Earns an Income of $5,000

question 6

True/False

Scenario 14.1
A worker in Firm A earns an income of $5,000 per month. He has been offered a job in Firm B where he will be paid a salary of $7,000 per month.
-Burger King has a direct demand for the cheese which it uses in its burgers.

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Definitions:

System Justification

System Justification is a theory in social psychology that describes the tendency of people to justify and defend the status quo, even if it is at odds with their own interests or fairness.

Hindsight Bias

A bias towards believing one would have known the outcome in advance after an event is concluded.

Social Influence

The impact that individuals or groups have on a person's attitudes, beliefs, decisions, or actions through direct or indirect means.

Memorable Characteristics

Distinctive features or qualities of something or someone that make them easily remembered.