What Is the First Step of the Scientific Method

question 11

Multiple Choice

What is the first step of the scientific method?

• A) Observe and ask questions.
• B) Construct a hypothesis.
• C) Conduct research and collect data.
• D) Test the hypothesis.

Recognize the impact of heuristics, such as the availability heuristic, on judgment and decision-making processes.

Identify errors in reasoning and judgment, such as overlooking base-rate information or the influence of representativeness heuristic.

Define critical thinking and its importance in evaluating evidence and making conclusions.

Describe the concept of the sunk cost effect and its influence on decision-making behavior.

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Definitions:

World Market

The global exchange of goods, services, and finances, encompassing international trade and investment flows.

Cartel Price

The price level set by a cartel, where members agree to control supply to maximize their profits.

Production Declines

A reduction in the quantity of goods and services produced, often due to factors such as decreased demand or disruptions in supply chains.

Cartel Members

Entities that agree to work together to control prices and market shares within an industry, inhibiting competition.