Biases

Economics is intended for use and application without biases. Biases are outside opinions you bring into consideration when trying to make a decision. Let's say, for example, that you are trying to decide whether to buy a new Honda or a new Volvo. You've heard that Volvos are better than Hondas. This is biase becuase this opinion has no factual basis . Biases obscure thinking and interfere with a person's objective analysis.

Loaded Terminology

Loaded terminology can be used to slant certain facts to favor a particular side of an issue. For example, authors can use words like "obscene" and "greed" to describe a bill going through congress if it is to their advantage if the bill were to fail. When purchasing products it is advised that one ignores these words and searches for the truth in the advertisement or article.

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Many people would look at Prince Fielder and say that he is a bad athlete due to him looking fat and out of shape. However, Prince Fielder is on of the premier hitters in baseball and is the youngest player ever to hit 50 homeruns in a season.




"Fox Attacks Black America"

What is this statement an example of?
I want to buy a German car instead of a Japanese car because the Germans make higher quality cars.

A) Bias
B) Ad Hoc Fallacy
C) Loaded Terminology
D) Scientific Fact



Links to other Websites
http://en.wikipedia.org/wiki/Bias
http://www.fair.org/articles/economics-coverage.html
http://blogs.wsj.com/economics/2007/12/11/bye-bye-bias/






Answer: A