The "Illusion of Control" Is a Bias That Makes Managers

question 40

True/False

The "illusion of control" is a bias that makes managers overestimate the extent to which they can control a situation.

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Definitions:

Capital

Economic resources used in the production of goods and services, such as machinery, buildings, or tools.

Construction Crane

A type of machinery used on construction sites to lift and lower materials and to move them horizontally.

Savings Account

A deposit account held at a financial institution that provides principal security and a modest interest rate.

Entrepreneur

An individual who creates new business ventures, taking on financial risks in the hope of profit.