When Managers Add Up All the Money Already Spent on a Project

question 98

Multiple Choice

When managers add up all the money already spent on a project and conclude it is too costly to simply abandon it, it is known as a(n) ________ bias.

• A)anchoring and adjustment
• B)confirmation
• C)availability
• D)representativeness
• E)sunk cost

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Definitions:

Uplift Union

A union strategy focusing on improving the social and economic status of workers through education, community involvement, and positive labor relations practices.

Moral

Pertaining to principles or rules of right conduct or the distinction between right and wrong; ethical.

Intellectual

A person involved in critical thinking, research, and reflection about society, and who proposes solutions for its normative problems.

National Unions

Unions that operate across an entire country, representing a broad base of members from various sectors and industries within that nation.