An Issue of Consumer Reports That Evaluates Brands of Table

question 19

Multiple Choice

An issue of Consumer Reports that evaluates brands of table saws would serve as a source of ______________ as it provides Lewis with useful knowledge about available features,convenience of use,and machine quality.

• A)rational information
• B)primary data
• C)selective data
• D)motivational data
• E)external information

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Definitions:

Bounded Rationality

A concept suggesting that in decision-making, individuals are limited by the information they have, their cognitive limitations, and the finite amount of time they have to make a decision.

Limited Information

A scenario where decision-makers have only a partial view or incomplete data about a situation or problem.

Heuristics

Mental shortcuts that allow people to solve problems and make judgements quickly and efficiently.

Availability Heuristic

Availability heuristic is a mental shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.