A Level Economics AQA Practice Exam

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Which of the following best describes the concept of heuristics?

Exhaustive search for alternatives
Systematic evaluations of all decisions
Simplified strategies to solve problems
Complex mathematical approaches

The correct answer is: Simplified strategies to solve problems

Heuristics refers to mental shortcuts or simplified strategies that individuals use to make judgments and solve problems more efficiently. These cognitive tools help to reduce the cognitive load and time spent in decision-making by allowing people to rely on experiences, rules of thumb, or intuitive judgments rather than conducting exhaustive analyses. Such approaches can be particularly useful in situations where quick decisions are required or when information is limited. The other options describe methods that are more rigorous or analytical. An exhaustive search for alternatives suggests a comprehensive evaluation of every possible choice, which is contrary to the nature of heuristics. Systematic evaluations of all decisions imply a thorough and methodical approach that contrasts with the simplification inherent in heuristics. Likewise, complex mathematical approaches require a level of detail and precision that heuristics, by their nature, aim to simplify and expedite. Therefore, the essence of heuristics encapsulates the use of straightforward strategies to navigate decision-making processes effectively.