Which of the Following Is Not One of the Elements

question 52

Multiple Choice

Which of the following is not one of the elements of ethics?

• A) Doing the right thing
• B) Making the right choices
• C) Presenting the right ideas
• D) Raising the share price

Describe the role of System 1 and System 2 thinking in decision making.

Analyze the effect of cognitive biases such as overconfidence, hindsight bias, and confirmation bias on economic decisions.

Understand how behavioral economics explains suboptimal decisions and systematic errors.

Grasp the strategies businesses use to influence consumer behavior and increase sales.

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Definitions:

Mental Set

A habitual strategy or pattern of approach for understanding and solving problems.

Eye Position

The specific location or orientation of the eyes, often used in psychological experiments to infer attention or interest.

Fovea

The area roughly at the retina’s center where cones are plentiful and visual acuity is greatest.

Peripheral Acuity

The ability to see and recognize details in the outer regions of the visual field, away from the center of gaze.