Answer:
The correct option is: b) overconfidence; hindsight bias
Explanation:
Hindsight bias refers to the tendency of an individual to perceive that an event that has already occurred was more predictable than it was before the event took place. As a result after the event has occurred, the individual believes that the event could have been predicted with high degree of certainty.
It causes distortions of the individual's memories and is also a source of overconfidence, which means that the individual tends to think that they know more than they actually do and are capable of predicting the outcomes of future events.
Therefore, People cannot rely on common sense because of <u>overconfidence</u> and <u>hindsight bias</u>
Answer: Intangibility
Explanation: The intangibility of services is the incapacity to evaluate or judge the worth gained from engaging in an activity or work using any substantial proof. it is the service whereby there is no substantial product that the consumer can buy, which can be seen or felt, meaning that services do not have physical attributes.
In this case, Kelly and Doug couldn't judge the service with respect to the possible outcome prior to paying for it because of the intangibility of the service rendered which was carpet cleaning.
Answer:
Thinking Skills, Basic Skills, and Personal Qualities
Explanation:
The correct option is:<span>
<span>Market ; Planned</span>
Full sentence will be as followed:
In a market economy, individuals and firms own most resources, and in a
planned economy, the government controls most resources.
In a market economy the prices and decisions are made by the individuals and
there is very limited intervention from the government while in a planned
economy it is not the case.</span>
