Reasoning Based on the Ease with Which We Can Bring

question 173

Multiple Choice

Reasoning based on the ease with which we can bring something to mind involves the use of the __________ heuristic.

• A) availability
• B) representativeness
• C) counterfactual
• D) confirmatory

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Definitions:

Division of Output

The allocation of the total quantity of goods or services produced among various consumers or markets.

Central Planning

An economic system where the government makes all decisions on the production and distribution of goods and services.

Freedom of Enterprise

the ability of individuals to start and manage their own businesses without undue restriction or interference.

Entrepreneurs

Individuals who start, organize, manage, and assume the risk for a business or enterprise, often introducing new products or services to the market.