You and Your Roommate Are Taking the Same Economics Class

question 233

Essay

You and your roommate are taking the same economics class. When it comes to doing homework assignments, your roommate draws beautifully precise graphs, while you are an extremely fast typist. Therefore, you and your roommate work on the assignments together. Which of the 12 principles is at work here?

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic or decision.

Stomach Cancer

A type of cancer that begins in the stomach lining, often as a result of long-term inflammation and other risk factors.

Murder

The unlawful killing of another human being without justification or valid excuse, typically considered one of the most serious forms of violent crime.

Behavioral Economics

A field of study blending insights from psychology and economics to explore how people make decisions based on biases, emotions, and other non-rational factors.