When People Must Choose Between Two Alternatives, and They Recognize

question 239

Multiple Choice

When people must choose between two alternatives, and they recognize one alternative but not the other, they often infer that the alternative they recognize has the higher value. This decision-making heuristic is called the _____ heuristic.

• A)representativeness
• B)recognition
• C)framing
• D)conjunction

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Definitions:

Partnership

A legitimate business setup where two or more individuals collaborate in managing the business and dividing its profits.

LLP

Stands for Limited Liability Partnership, a type of partnership where some or all partners have limited liabilities, blending elements of partnerships and corporations.

Net Income

Profit after deduction of all operational, interest, and tax expenses.

Capital Account Balance

A measure of the financial value of a nation's assets minus liabilities in the capital account, reflecting changes like foreign investment.