Humans Have a Natural Tendency To

question 8

Multiple Choice

Humans have a natural tendency to:

• A)notice evidence that is inconsistent with their beliefs.
• B)see what they expect or wish to see.
• C)engage in critical thinking as a default cognitive strategy.
• D)give undue importance to events that are contrary to their wishes or desires.

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Definitions:

Line of Credit

A credit facility extended by a bank or financial institution to a government, business, or individual, allowing them to borrow up to a predetermined limit.

Price Lining

A pricing strategy where products are sold at a limited number of price points, each representing a different level of quality or features.

Prestige Pricing

A pricing strategy where prices are set higher than normal because the product or service is perceived to be more prestigious or luxurious.

Odd Pricing

A pricing strategy where goods are priced slightly below a round number, such as $1.99 instead of $2.00, to make the price seem lower to consumers.