Examlex
Explain the deceptive pricing practice known as bait and switch.
Anchoring Phenomenon
A concept in psychology where initial exposure to a number or value serves as a reference point and influences subsequent judgments.
Subsequent Estimates
Revisions or new calculations made after initial estimates, often based on additional data or changes in a project or situation.
Sunk Cost Effect
A bias in decision making in which already “spent” costs unduly influence decisions on whether to continue.
Math Quiz
A test or examination designed to assess an individual's mathematical knowledge and skills.
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