Examlex
Explain how an increase in the stock of capital can increase output even if it is not accompanied by an increase in the labor force.
Decision Trap
A situation in decision-making where biases, poor information, or pressure leads to a significant or systematic error.
Framing Error
A cognitive bias in decision-making that occurs when information is presented in a way that influences an individual's interpretation or decision.
Escalation Of Commitment
This refers to the phenomenon where individuals or organizations continue to invest time, money, or resources into a failing course of action due to the substantial resources already invested, rather than altering or abandoning the course.
Problem No Longer Exists
A situation where previously identified issues have been resolved or are no longer relevant.
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