Provide an Explanation of Availability Bias

question 3

Essay

Provide an explanation of availability bias:

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Definitions:

Sales

The activities involved in selling products or services, including marketing, negotiation, and transaction processes.

Coffee Shop

A retail establishment that sells coffee, tea, and often light meals or pastries, providing a social or work space for customers.

Franchise

Contractual agreement in which a franchisee gains the right to produce and/or sell the franchisor’s products under that company’s brand name if they agree to certain operating requirements.

Mall

A large enclosed shopping area with a variety of stores and services in one or more buildings, providing a central location for consumers to shop.