Which of the following refers to a basis or standard used to estimate value?

Question

Quizplus · Accepted Answer

Reference points refer to a basis or standard used to estimate value, such as comparing prices to similar products or considering past prices of the same product. Mental accounting refers to the tendency of people to separate their money into separate mental accounts based on arbitrary criteria, payment decoupling refers to the separation of payment and consumption, and default decisions refer to pre-set options that are automatically applied if a decision is not actively made.

Which of the Following Refers to a Basis or Standard