Examlex
In explaining your choice of an environmental science major in college to your roommate,you would probably emphasize the fact that environmental science is a(n)
Efficient
An economic condition where resources are allocated in the most optimal way, maximizing the production of goods and services without wasting any resources.
Production Possibilities Frontier
A graph that illustrates the maximum amounts of two goods that a society can produce with the available resources and technology, given that it is using its resources efficiently.
Representativeness Bias
A cognitive bias where individuals incorrectly assess the probability of an event based on similarities to existing prototypes in their mind, rather than on actual evidence.
Availability Bias
A cognitive bias where individuals overestimate the importance of information that is readily available to them.
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