Examlex
When the price of scooters drops by 5 percent,the quantity demanded changes by 20 percent.We know that the price elasticity of demand for scooters is
System I Thinking
A term in psychology that refers to the fast, automatic, intuitive approach of decision-making, as opposed to slow, deliberate, analytical thinking.
Confirmation Bias
The habit of seeking out, understanding, preferring, and remembering data in a manner that validates one's already established views or theories.
Hypothesis Testing
A statistical method that is used in making statistical decisions using experimental data.
Selection Task Performance
A measure of cognitive function that involves choosing relevant pieces of information while ignoring irrelevant ones to complete a task.
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