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Scorpion4ik [409]
3 years ago
5

Fred just purchased an expensive new refrigerator and is considering purchasing the overpriced warranty. In making his decision

on the warranty, Fred ignores better ways that his money could be spent, including paying off high-interest credit card debt. According to prospect theory, the process that leads Fred to ignore the debt and buy the overpriced warranty is anchoring. confirmation bias. framing bias. mental accounting.
Social Studies
1 answer:
Nikolay [14]3 years ago
8 0

Answer:

anchoring

Explanation:

In simple words, The anchoring phenomenon can be understood as the cognitive prejudice in which a single comparison source or 'anchor' influences a person's judgments. Following the setting of the anchoring number, a person 's future statements, estimations, and so on may differ from what things might have remained sans the anchor.

Thus, from the above we can conclude that the correct answer is anchor.

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Answer:

Party system

Explanation:

The party system is originated from European scholars, especially James Bryce and Moisey Ostrogorsky

The party system refers to the system and arrangement of political parties in a political system or democratic state. It encompasses such things as the number of parties, party dominance, Party structure and similarities. Giovanni satori is known to have come up with the most preferred ways of classifying party systems. more commonly there are multi-party systems, single party sytems and two party system

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Answer:

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Explanation:

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