Jerry Starts His Own Business Even When He Is Advised

Multiple Choice

Jerry starts his own business even when he is advised by family and friends that it is not a suitable opportunity. His friends feel that the market is uncertain and a new entry at this juncture is inadvisable. Jerry soon realizes that his friends were right and he should have taken their advise. In spite of himself, he is forced to admit that the market situation is such that it would take more than being a good entrepreneur to survive. Which of the following is Jerry experiencing?

A) exploitation
B) anchoring
C) information bias
D) illusion of control
E) reactance