Jerry Starts His Own Business Even When He Is Advised

question 85

Multiple Choice

Jerry starts his own business even when he is advised by family and friends that it is not a suitable opportunity. His friends feel that the market is uncertain and a new entry at this juncture is inadvisable. Jerry soon realizes that his friends were right and he should have taken their advise. In spite of himself, he is forced to admit that the market situation is such that it would take more than being a good entrepreneur to survive. Which of the following is Jerry experiencing?

• A) exploitation
• B) anchoring
• C) information bias
• D) illusion of control
• E) reactance

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Definitions:

Subtheory

A division or smaller theory that is part of a larger theoretical framework, often focusing on a specific aspect of the broader theory.

Analytical Intelligence

A facet of intelligence proposed by Sternberg as part of his triarchic theory, involving the ability to analyze, evaluate, judge, compare, and contrast information.

Practical Intelligence

Practical intelligence refers to the ability to solve everyday problems by utilizing knowledge gained from experience rather than purely theoretical or technical understanding.

Reasoning Skills

The capacity to think logically, form sound judgments, and solve problems efficiently.