Ali Is Having a Garage Sale

question 19

Multiple Choice

Ali is having a garage sale. He is trying to sell an old alarm clock for $20, an old pair of sneakers for $40, and an old TV set for $100. These prices are way too high. Since Ali owns these products, they seem to him to be more valuable than they really are. This phenomenon is known by social psychologists as ____.

• A)lateral shrinkage
• B)product affinity ​
• C)personal use shrinkage ​
• D)the mere ownership effect ​

---

Definitions:

Employees and Staff

Individuals hired by an organization to perform specific duties in exchange for compensation.

Cultural Change

A significant shift in the behaviors, values, and norms within an organization or society.

Optimistic

A tendency to expect the best possible outcome or dwell on the most hopeful aspects of a situation.

Team Building

A collective term for various types of activities used to enhance social relations and define roles within teams, often involving collaborative tasks.