Carlos Always Buys Bread and Milk When He Goes Grocery

question 127

True/False

Carlos always buys bread and milk when he goes grocery shopping. In this case, bread and milk are examples of impulse goods.

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Definitions:

Heuristics

Heuristics are mental shortcuts or simple strategies used to make quick and efficient decisions or solve problems, often employed when facing complex issues or incomplete information.

Availability Heuristic

A strategy for judging how frequently something happens—or how common it is—based on how easily examples of it come to mind.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes, often utilized when facing complex problems or incomplete information.

Faulty Distributor

A defective component of an ignition system in an internal combustion engine that can lead to performance issues.