Suppose You Are Offered a New IPod in Exchange for Thirty

question 163

Multiple Choice

Suppose you are offered a new iPod in exchange for thirty hours of your work in your friend's garden. This is an example of

• A) money as a medium of exchange.
• B) money as a store of value.
• C) barter.
• D) money as a standard of deferred payment.

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Definitions:

Outcome Bias

Belief that the outcomes of a behaviour were intended by the person who chose the behaviour.

Disposition

An individual's inherent qualities of mind and character.

Naïve Scientist

A theory suggesting individuals attempt to understand the social world using logical processes akin to those used by scientists, albeit in a simplified, "naïve" manner.

Intuitive Scientist

A concept suggesting that individuals use informal methods akin to scientific reasoning to understand and predict others' behaviors.