Cassie's Quilts Alters,reconstructs,and Restores Heirloom Quilts

question 52

Multiple Choice

Cassie's Quilts alters,reconstructs,and restores heirloom quilts.Cassie has just spent $800 purchasing,cleaning,and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished.After having spent $800,Cassie discovers that she would need some special period fabric that would cost her $200 in material and time in order to complete the task.Alternatively,she can sell the quilt "as is" now for $900.What should she do?

• A)She should cut her losses and sell the quilt now.
• B)It does not matter what she does; she is going to take a loss on her project.
• C)She should purchase the period fabric,complete the task and then sell the quilt.
• D)She should not do any more work on the quilt because she has already spent too much time on it and has not been paid for that time.

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Definitions:

Egocentrism

A cognitive bias in which individuals overemphasize their own perspective and regard it as more important than others'.

Accommodation

In cognitive psychology, refers to the process of adjusting one's schemas and perceptions to better match incoming information.

Authoritative Parents

Authoritative parents use a balanced parenting style characterized by high responsiveness and high demands, guiding their children through reason and support.

Authoritarian Parents

Parenting style characterized by high demands and low responsiveness, where parents impose strict rules and expect obedience.