In a Decision-Making Problem, Anchoring Effects Occur When

question 16

Multiple Choice

In a decision-making problem, anchoring effects occur when

• A) decision makers are tied too closely to previous decisions.
• B) organizations refuse to consider new alternatives.
• C) a seemingly trivial factor serves as a starting point for estimations.
• D) a person in a position of authority exerts his or her opinion very forcefully.

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Definitions:

Deceived

To mislead or trick someone into believing something that is not true, often for personal gain or advantage.

"Teacher"

A person who helps students to acquire knowledge, competence, or virtue, often within an educational context.

Social Loafing

The tendency for individuals to exert less effort when working in a group than when working alone.

Group Project

A task or assignment designed to be executed by multiple individuals collaboratively, often used in educational settings to develop teamwork skills.