Peer Influences

question 82

Multiple Choice

Peer influences

• A) can be either positive or negative.
• B) are almost always positive.
• C) are almost always negative.
• D) rarely affect social development.

Describe methods to engage various groups in the decision process, highlighting the benefits of brainstorming and focus groups.

Acknowledge the limitations and biases inherent in human decision-making, including groupthink and misallocation of resources.

Understand different decision-making models and their characteristics.

Identify the impacts of psychological phenomena on managerial decision-making.

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Definitions:

Vertical Equity

A principle in taxation that proposes taxpayers with a greater ability to pay, such as higher income levels, should pay more in taxes than those with lesser ability to pay.

Horizontal Equity

The principle that individuals with the same income or resources should be treated equally by the tax system.

Tax Deductions

Expenses that can be subtracted from gross income to reduce the amount of income that is subject to income tax.

Double Taxation

A taxation principle where income taxes are paid twice on the same source of earned income, property, or financial asset.