Which of the Following Is a Common Mistake Consumers Commit

question 26

Multiple Choice

Which of the following is a common mistake consumers commit when they make decisions?

• A)They take into account nonmonetary opportunity costs but ignore monetary costs.
• B)They are overly pessimistic about their future behavior.
• C)They fail to ignore sunk costs.
• D)They sometimes value fairness too much.

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Definitions:

Gilligan

Carol Gilligan is a psychologist known for her work in moral development and ethical relationships, emphasizing the difference in moral reasoning between males and females.

Kohlberg

A theorist known for his work in the development of moral reasoning.

Justice

The concept of moral rightness based on ethics, law, fairness, and equity that also includes the punishment of wrongs.

Ego Ideal

A component of the psyche, representing an individual's ideal self and the standards by which they measure their behavior.