Which of the Two Cognitive Systems (System 1 and System

question 1

Essay

Which of the two cognitive systems (System 1 and System 2)is most often used,and in what kinds of decision is it typically used?

---

Definitions:

Cost Of Goods Sold

The direct costs related to the production of the goods sold by a company, including materials and labor.

Direct Materials

Costs of raw materials that are directly used in the production of a product, easily traceable to the product being manufactured.

Direct Labor

The labor costs directly associated with the production of goods or services, including wages of workers directly involved in production.

Manufacturing Overhead

All manufacturing costs that are not directly related to the production of a product, including indirect materials, labor, and other expenses.