When Quang Couldn't Find His Wallet,he Began to Wonder About

question 101

Multiple Choice

When Quang couldn't find his wallet,he began to wonder about his roommate's honesty.Although Quang later recalled that he had left his wallet in the glove compartment of his car,he continued to doubt his roommate's honesty.Quang's irrational thinking best illustrates

• A) confirmation bias.
• B) an algorithm.
• C) belief perseverance.
• D) framing.

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Definitions:

Market Potential

The maximum total sales of a product or service that all companies in a market could collectively achieve in a specific time period under ideal conditions.

Actual Market

The existing marketplace where products or services are being traded, as opposed to potential or targeted markets not yet reached.

Financial Resources

Financial resources are the funds that are available to a business for spending in the form of cash, liquid securities, and credit lines.

Staircase Analysis

A method of analyzing the incremental steps a company must take to reach a higher level of performance or goal.