Question 13 Not yet answered Marked out of 0.50 P Flag question Anchoring bias occurs when people consider a particular value for an unknown quantity before estimating that quantity: the estimates stay close to the number that people considered. Select one: O True O False Question 14 Not yet answered Marked out of 0.50 Flag question Decision Making is a high level cognitive process based on perception attention, memory and judgments Select one: O True O False Question 18 Not yet answered Marked out of 0.50 P Flag question The Left brain or hemisphere is responsible for subjectivity and emotions Select one: O True O False Question 17 Not yet answered Marked out of 0.50 P Flag question Heuristics are simple techniques or mental processes that humans and organizations use to quickly form judgments and make decisions Select one: True O False Question 19 Not yet answered Marked out of 0.50 P Flag question Bounded awareness is the phenomenon where humans fail to see and use information easily accessible to them Select one: O True O False Question 16 Not yet answered Marked out of 0.50 Flag question Anchoring means Select one: a. None of the answers O b. Relying so much on the last information before making decisions O c. Relying so much on the second information before making decisions O d. Relying so much on the first information before making decisions Question 15 Not yet answered Marked out of 0.50 P Flag question A sure loss is preferred to a probable one Select one: O True O False Question 20 Not yet answered Marked out of 0.50 Flag question Deflation Select one: O a. Implies an increase in the purchasing power O b. Means a general increase in prices O c. All the answers are correct O d. Implies a decrease in the purchasing power Question 21 Not yet answered Marked out of 0.50 P Flag question Individuals Select one: O a. Pay little or no attention to gains and losses O b. Treat risks concerning perceived gains just like risks concerning perceived losses O c. Treat risks concerning perceived gains differently from risks concerning perceived losses O d. All the answers are correct Question 22 Not yet answered Marked out of 0.50 P Flag question Anchoring is one type of heuristics Select one: O True O False