What's the Opportunity Cost of Taking an Unfair Advantage in a Deal

question 8

Multiple Choice

What's the opportunity cost of taking an unfair advantage in a deal?

• A) Probably nothing, if the transaction is only taking place once.
• B) Building a reputation for being untrustworthy if the deal is likely to be repeated.
• C) Future deals may not occur or may come at a much higher cost.
• D) All of these statements are true.

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Definitions:

Autobiographical Memory Studies

Research focused on memory for events and experiences from one's own life, often structured in a narrative form.

Memory For Actions

The ability to remember and perform tasks or actions, often referred to as procedural or implicit memory.

Autobiographical Memory

A type of memory system consisting of episodes recollected from an individual's life, based on a combination of episodic (personal experiences and specific objects, people, and events experienced at particular time and place) and semantic (general knowledge and facts about the world) memory.

First Autobiographical Memories

The earliest memories that individuals can recall about their own life, typically from early childhood.