Keith Is Conducting Secondary Research into the Structure of His

question 4

Multiple Choice

Keith is conducting secondary research into the structure of his company's industry.Which of the following websites would be most useful for that research?

• A)Australian Association of National Advertisers
• B)Australian Bureau of Statistics
• C)IBISWorld
• D)Brand Channel
• E)Experian Hitwise

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Definitions:

System 1

Refers to our mental system primarily responsible for quick, instinctual, and often subconscious decisions and judgments, contrasting with deliberate and analytical thinking processes.

System 2

refers to a theory of decision-making proposed by Daniel Kahneman that emphasizes slow, deliberate, and analytical reasoning.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind, affecting the perception of the frequency or likelihood of events.

Heuristics

Mental shortcuts or rules of thumb that simplify decision-making processes, though they may sometimes lead to biases or inaccuracies.