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In the late 1870s, the Southern Republican Party vanished with the end of Reconstruction, and Southern state governments effectively nullified both the 14th Amendment (passed in 1868, it guaranteed citizenship and all its privileges to African Americans) and the 15th amendment, stripping blacks in the South of the right to vote.
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After watching a news story about a man struck by lightning on a golf course, you decide that you will never play golf to avoid being struck yourself. This kind of strategy thinking is called as heuristic.
<u>Explanation:</u>
Cognitive and heuristic biases are the two types of decision-making approaches. Heuristic bias is one of the approaches in decision making that takes only a small amount of time to make a decision.
The result of the decision taken based on this method may be successful and perfect or unsuccessful and rational. Its solution will be never sufficient or permanent for the problem.
That is short term goals will always be the result of the heuristic decision-making approach. Also, it uses the experiences of the past or history of similar problems. Examples are common sense, estimating someone without knowing them, trial and error, etc.
Communism is the far left approach - everything is regulated by the government, and everyone working the same job gets the same wage. There's little to no incentive for working hard in your job, but almost everything is shared equally.
Socialism is more of a middle approach - some of the market is capitalist, and some is communist. For example, public health care is mandatory for everyone in Canada. It's regulated by the government, but not much else business wise is.
Capitalism is essentially where most if not all of the market is privately owned and funded. The government doesn't do much business wise except set regulations, and the price is based off of competition and finding an equilibrium