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A Process Map Is

question 43

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A process map is:


Definitions:

Probability

A measure of the likelihood of a specific event or outcome to occur, expressed as a number between 0 and 1.

Mental Accounting

A concept in behavioral finance where individuals categorize and evaluate economic outcomes by assigning them to specific accounts mentally.

Framing

The way information is presented or a situation is structured to influence decision-making or perceptions.

Consumption Options

The various goods and services that consumers have available to choose from for purchase.

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