The Tendency to Overestimate One's Ability to Have Foreseen or Predicted

question 393

Multiple Choice

The tendency to overestimate one's ability to have foreseen or predicted the outcome of an event after it has occurred is to _____ as the tendency to blame an innocent victim of misfortune for having somehow caused the problem is to _____.

• A) self-serving bias; self-effacing bias
• B) fundamental attribution bias; just-world hypothesis
• C) self-effacing bias; self-serving bias
• D) hindsight bias; blaming the victim

Recognize the significance of Sabbath laws and their historical context.

Learn the practical applications and implications of contracts for necessaries entered into by minors.

Understand the concept of canalization and its significance in childhood development.

Recognize the developmental differences in response to physical pain between neonates and toddlers.

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Definitions:

Relatively Inelastic

Describes a situation where the demand or supply of a product is not significantly changed by alterations in price.

Total Revenue

The sum total of revenue a business earns from its sales activities and service provisions during a particular period.

Inelastic Demand

A situation where the demand for a product does not change significantly with a change in price.

Elastic Demand

Reflects how the quantity demanded of a good or service changes in response to a change in price; high elasticity indicates demand is highly sensitive to price changes.