The Fact That We Hear About Airplane Crashes on the News

question 125

Multiple Choice

The fact that we hear about airplane crashes on the news more often than we hear about automobile crashes may lead us to believe that we are more likely to die in a plane than a car.This is an example of a(n)

• A)attention bias.
• B)simulation heuristic.
• C)availability heuristic.
• D)representativeness heuristic.

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Definitions:

Market Penetration

A metric showing the extent of purchases or uptake of a product or service against the total possible market for it.

Market Development

A business growth strategy focusing on increasing sales of existing products to new markets or demographic segments.

Diversification

The strategy of increasing the variety of products or markets to reduce risk.

Diversification

The strategy of entering into new markets or creating new products to spread and reduce risks.