The Tendency to Make Decisions Based on How Closely an Alternative

question 116

Multiple Choice

The tendency to make decisions based on how closely an alternative matches a particular prototype is called a(n) ____.

• A) representativeness heuristic
• B) availability heuristic
• C) qualifying algorithm
• D) pragmatic heuristic

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Definitions:

Mortgage

A mortgage is a loan specifically for purchasing real estate, where the property itself serves as collateral for the loan.

Real Property

Land and anything permanently attached to it, such as buildings.

Deed Of Trust

A formal written instrument that transfers legal ownership of real property to a third party while the mortgagor remains on the property. The third party holds certain rights to that property as security for the mortgagor’s creditors.

Disinterested Third Party

A disinterested third party is an unbiased individual or entity that is not involved in the matters at hand, ensuring impartiality in decision-making processes or disputes.