Estimating the Probability of Something Based on How Well the Circumstances

question 61

Multiple Choice

Estimating the probability of something based on how well the circumstances match your existing prototype for that event or object is called _________.

• A)functional fixedness
• B)the availability heuristic
• C)the representative heuristic
• D)a mental set

---

Definitions:

Present Right

The current legal ability to exercise a right or claim to property, as opposed to a future or conditional interest.

Property Ownership

The legal right to possess, use, and dispose of real estate or personal property.

Co-ownership Interests

Legal rights and interests held by individuals or entities that own property together, entitling them to use, profit from, or dispose of the property jointly.

Tenancy in Common

A form of co-ownership where each owner possesses a fractional share of the entire property, but there is no right of survivorship.