Answer:
Anchoring bias
Explanation:
Selective perception is the tendency not to notice and more quickly forget stimuli that cause emotional discomfort and contradict our prior beliefs. For example, a teacher may have a favorite student because they are biased by in-group favoritism. The teacher ignores the student's poor attainment.
Confirmation bias is the tendency to search for, interpret, favor, and recall information in a way that confirms or strengthens one's prior personal beliefs or hypotheses. It is a type of cognitive bias.
Framing bias refers to the observation that the manner in which data is presented can affect decision making. The most famous example of framing bias is Mark Twain's story of Tom Sawyer whitewashing the fence. By framing the chore in positive terms, he got his friends to pay him for the “privilege” of doing his work.
The anchoring effect is a cognitive bias that describes the common human tendency to rely too heavily on the first piece of information offered (the “anchor”) when making decisions. During decision making, anchoring occurs when individuals use an initial piece of information to make subsequent judgments.
Answer:
When a nation exports more money they lose money.
Example:
If India exported 5 million dollars worth of cotton they lose 5 million dollars worth of cotton. 5 million dollars is not a lot for a nation's economy but I hope you understand!
Answer:
Tell them the advantages, how it's helpful etc....
Potential rate of return on investments and the level of risk are directly correlated. In general, if the level of risk of investment increases, the amount of potential return increases as well. As investors move up on the 'pyramid of investment risk' the chances of losing increase along with the amount of potential return.
Answer:
Development refers to a positive and progressive change in somebody or something.
