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When opening a spa,you may need to buy tables,a sound system,and credit card processing equipment.What do economists call these expenditures?
Free Association
A psychoanalytic technique where the patient speaks freely to uncover repressed thoughts and feelings.
Better-than-average Effect
A cognitive bias where individuals overestimate their own qualities and abilities relative to others.
Self-serving Bias
A common tendency for individuals to attribute positive outcomes to their own character but attribute negative outcomes to external factors.
Narcissism
A personality trait characterized by an inflated sense of self-importance, need for admiration, and lack of empathy for others.
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