"When an individual uses a comparison to aid in making a decision, we often call this a:
A) Sunk cost.
B) Fixed cost.
C) Reference point.
D) Decoupling.

Question

Quizplus · Accepted Answer

A reference point is used in decision-making as a basis for comparison. It helps individuals evaluate options by comparing them against a known standard or benchmark, aiding in making more informed choices.

"When an Individual Uses a Comparison to Aid in Making