Question

question 3 (multiple choice worth 5 points) focus lo focusing on what you want right now as opposed to what you will need later is known as ______. loss aversion present bias herd mentality confirmation bias

Explanation:

• Loss aversion: Prioritizing avoiding losses over gains, not present vs future needs.
• Present bias: The tendency to prioritize immediate desires over long-term needs, matching the definition.
• Herd mentality: Following the actions of a group, unrelated to present/future focus.
• Confirmation bias: Seeking information that supports existing beliefs, not relevant to the question.

Answer:

B. present bias