The Shortcuts That People Use to Make Judgments and Decisions

question 134

Multiple Choice

The shortcuts that people use to make judgments and decisions quickly and efficiently are called

• A) cultural truisms.
• B) judgmental heuristics.
• C) rationalizations.
• D) structural equations.

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Definitions:

New Product

An item that has been recently introduced to the market, offering new or improved features, functionalities, or benefits.

Rent Control

Government policies or laws that limit the amount landlords can charge for leasing residential properties in order to keep housing affordable.

High Demand

A market condition where the desire and need for a product or service significantly exceed the available supply.

Bundle

A set of goods or services sold together as a single combined unit.