Define each of the following mental shortcuts, and explain why each may be inaccurate:

Define each of the following mental shortcuts, and explain why each may be inaccurate: (1) the availability heuristic, (2) the representativeness heuristic, (3) the anchoring and adjustment heuristic.Mental shortcuts or we can say heuristics help the people in making their decisions based onthe availability of the limited information. But sometimes, these decisions can be bad becauseof…