Examlex
The cost of marginal bad debts is found by multiplying a firm's opportunity cost by the difference between the level of bad debts before and after the relaxation of credit standards.
Independence
The state or quality of being self-reliant and free from reliance on external support or control.
Bandwagon Effect
A psychological phenomenon where people do something primarily because other people are doing it, regardless of their own beliefs.
Reactance
Reactance is a psychological response wherein individuals exhibit resistance or opposition to perceived attempts to constrain their freedom or autonomy.
Anticonformity
Behavior characterized by resistance to social norms or conventions, often for the sake of being contrary.
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