Techniques 2

Question 1

What is the Availability Heuristic

Answer 1

A quick judgment based on whatever examples we most easily remember.

Question 2

What does the Pareto Principle state?

Answer 2

It states that roughly 80% of effects come from 20% of causes.

Question 3

What is Inversion in Mental Models?

Answer 3

Inversion is a strategy that involves thinking about what you want to avoid or the opposite of your goal.

Question 4

What does the ‘Law of Diminishing Returns’ explain?

Answer 4

It explains that after a certain point, additional input yields progressively smaller increases in output.

Question 5

What I’d ’Cognitive Dissonance’?

Answer 5

It is the mental discomfort experienced when holding two or more contradictory beliefs or values.

Question 6

True or False: The ‘Confirmation Bias’ leads individuals to seek out information that contradicts their existing beliefs.

Answer 6

False

Question 7

What is ‘The Circle of Competence’?

Answer 7

It involves recognizing the boundaries of one’s knowledge and concentrating on areas of expertise.

Question 8

True or False: The ‘Sunk Cost Fallacy’ encourages individuals to continue investing in a losing proposition.

Answer 8

True

Question 9

What does the ‘Feedback Loop’ model involve?

Answer 9

It involves a cyclical process where the output of a system is circled back as input.

Question 10

Multiple Choice: Which model suggests that small changes can lead to significant impacts over time? A) Butterfly Effect B) Sunk Cost Fallacy C) Pareto Principle

Answer 10

A Butterfly Effect