The Recency Effect Is Most Common When

question 36

Multiple Choice

The recency effect is most common when:

• A)making an evaluation involving complex information.
• B)the decision maker has considerable experience in that situation.
• C)the decision maker believes most employees are above average.
• D)evaluating someone who is easily identified with a visible demographic group.
• E)the decision maker has a strong learning orientation.

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Definitions:

Mark-up

The amount added to the cost price of goods to cover overhead and profit; typically expressed as a percentage of the cost.

Unit Cost

Unit cost is the total expense incurred to produce, store, and sell one unit of a product or service, including both fixed and variable costs.

Operating Profit

Income from business operations after operating expenses are subtracted from gross profits, but before taxes and interest expenses.

Operating Expense

ongoing costs for running a product, business, or system.