Examlex
To determine the slope of the variable cost from a scatter diagram, divide the change in cost by the change in units.
Endowment Effect
The cognitive bias causing individuals to ascribe higher value to things merely because they own them.
Loss Aversion
A psychological principle suggesting people tend to prefer avoiding losses to acquiring equivalent gains.
Military Time
A timekeeping system that runs from midnight to midnight, displayed in a 24-hour format, to avoid ambiguity.
Documenting
The process of recording information systematically and accurately for the purpose of communication, compliance, and record-keeping.
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