Representative democracy (also indirect democracy, representative government or psephocracy) is a type of democracy founded on the principle of elected officials representing a group of people, as opposed to direct democracy.
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The following are the key terms matching their definitions:
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Command Economy: A system where the government tells producers what and how to
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Planned Economy: An economic system run by the government.
Socialist Regime:<u> </u>A system aimed at equality of wealth among its members.
Theory: An idea about how something should be organized.
Minimum Wage: The lowest hourly wage that can legally be paid to an employee.
Mixed Economy: A system that follows both free-market and command principles.
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People frequently overestimate the frequency of these situations since they are widely reported when they do occur.
The three heuristics that attracted the greatest attention were representativeness, anchoring and adjustment, and availability.
<h3>What is an example of availability heuristic?</h3>
- The availability heuristic prioritizes sporadic events according to their recentness and vividness. For instance, aviation accidents might cause people to fear flying. But the chance of dying in a car accident is much higher than the chance of dying as an aviation passenger.
- The accessibility Heuristic is a cognitive bias in which you make a choice based on information that is readily available to you, such as an example, information, or recent experience, even though it may not be the greatest example to guide your choice.
- When faced with an instant choice requirement, the availability heuristic enables people to make decisions fast. When you're attempting to decide or pass judgment on the world around you, this can be useful.
To learn more about heuristic refer to:
brainly.com/question/24053333
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