Status quo bias:
A)is a type of mental barrier to saving.
B)occurs when people actively make decisions to change, even if it is fairly difficult to do so.
C)is when people exhibit when they change their behavior to match others around them.
D)occurs when people have a negative view on the status quo.

Question

Quizplus · Accepted Answer

Status quo bias refers to the preference to keep things the same or maintain a current or previous decision. It is a cognitive bias that can act as a barrier to saving because individuals may prefer to stick with current financial habits rather than making changes that could potentially improve their savings.

Status Quo Bias