An Organization Needs ____ Because They Create More Efficiency and Effectiveness

question 48

Multiple Choice

An organization needs ____ because they create more efficiency and effectiveness.

• A)owners
• B)managers
• C)employers
• D)team leaders

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Definitions:

Regret Aversion

A theory in behavioral economics that describes the emotional reaction people experience after realizing they have made an error in judgment, leading them to avoid making decisions.

Money Illusion

Money illusion is a cognitive bias where people misjudge the value of money in terms of its purchasing power, typically neglecting the effects of inflation or deflation.

Representativeness Heuristic

A cognitive bias in decision-making where the likelihood of an event is estimated based on how similar it is to the typical case.

Narrow Framing

Making decisions without considering all implications or by overly focusing on a narrow set of factors.