The Availability Heuristic

question 1

Multiple Choice

The availability heuristic:

• A) can cause individuals to overestimate the occurrence of unlikely events.
• B) leads individuals to seek information that fits their point of view and to discount information that does not.
• C) leads to initial information,impressions,data,feedback,or stereotypes anchoring subsequent judgments and decisions.
• D) can make knowledge of an outcome influence beliefs about the probability that we could have predicted the outcome earlier.
• E) creates a tendency to consider risks about gains differently than risks pertaining to losses.

Understand the role of transnational corporations (TNCs) and their influence on global economy.

Learn about the historical examples of economic and political dominance, such as colonization.

Discuss the role of international organizations in post-World War II reconstruction and development.

Compare and contrast the various theories of global economic development and their historical contexts.

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Definitions:

Competitive Advantage

Refers to a situation or factor that gives a business an advantageous or dominant position over its rivals in the market.

Durable Products

Goods that are intended to last for a significant period of time without deteriorating quickly.

Sophisticated

Characterized by a high level of complexity, refinement, or development, often resulting from extensive experience or knowledge.

Product Innovation

The process of creating new products or significantly improving existing ones, often to meet new customer needs or market demands.