regulatoryBody NABARD Grade A Prelims Mock Test 2024 Management Concepts of Management Decision Making
In decision-making, what is the "Framing Effect"?
1
Making decisions based on the first piece of information received
2
A bias where people decide on options depending on whether the options are presented with positive or negative connotations
3
The preference for staying with a known option over taking a risk with a new one
4
The tendency to see patterns in random data
5
Relying on the most readily available information