The Term ________ Refers to the Tendency for People to Rely

question 43

Multiple Choice

The term ________ refers to the tendency for people to rely too heavily on one piece of information to adjust their estimates, even if it is irrelevant.

• A) availability bias
• B) confirmation bias
• C) anchoring
• D) planning fallacy

---

Definitions:

Polychronic Activity

Polychronic activity refers to the handling of multiple tasks or events simultaneously, characteristic of cultures that value flexibility in time management.

Relationship Marketing

Relationship marketing is a strategy designed to foster customer loyalty, interaction and long-term engagement rather than focusing solely on short-term goals.

Psychological Time

An individual's subjective experience of time, which may differ significantly from actual clock time, influenced by various psychological states.

Hedonic Shopping

Shopping activities driven by pleasure seeking and emotional gratification rather than practical or functional needs.