Answer:
They are exhibiting confirmation bias
Explanation:
Confirmation bias occurs when a person discards information that does not validate his pre-existing beliefs, and only takes into account the information that does validate those same pre-existing beliefs.
If a decision maker only seeks out information that does not contradict their past judgments, they are exhibiting confimation bias because they are preventing their past judgments and views from being challenged.
Answer: Intuitive decision making model.
Explanation:
The intuitive decision making model is used to describe a situation where an individual makes decisions based on instincts when faced with a challenge rather than making use of analytics. For an individual to make use of the intuitive decision making model, he should have had previous experience with the current area of challenge.
Answer:
4,748.1
Explanation:
the commission will be obtain by multiplying the commison fee rate by thje alue of the real state:
sales x commision fee
387,600 x 7% = 27,132
Now this is split 50%
27,132 / 2 = 13,566
We now thatthe selling broker gives 35% of his commision
sales fee:
65% salesperson
35% selling person
So the selling licensee will earn:
13,566/0.35 = 4,748.1
Answer:
A) rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
One of economics basic premises is that human beings are rational and act on self interest. That describes both the behavior of consumers who will always try to maximize their benefits at the lowest possible cost, and entrepreneurs like Alex who will try to increase their wealth by identifying and satisfying other people's needs and wants.