Which of the Following Is an Example of Schematic Reasoning

question 12

Multiple Choice

Which of the following is an example of schematic reasoning?

• A)A politician gathers all relevant information and bases his/her decision on a rational calculation.
• B)A politician conducts extensive research before making a decision.
• C)A politician matches what he/she sees with prototypical experiences in order to decide on a course of action.
• D)A politician chooses a course of action that he/she deems "good enough."

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Definitions:

Goods and Services

The physical items (goods) and intangible assistance or activities (services) that fulfill the needs or wants of consumers, forming the basis of all economic activities.

Comparative Advantage

The capacity of a country or firm to produce a particular good or service at a lower marginal and opportunity cost over another.

Absolute Advantage

The ability of a country or entity to produce a good or service more efficiently (using fewer resources) than another country or entity.

Specialization

Refers to the process of focusing resources on specific activities, tasks, or areas of expertise to increase efficiency and productivity.