Final answer:
The availability heuristic refers to making decisions based on information that is readily available in memory.
Step-by-step explanation:
The availability heuristic is a cognitive bias where people make decisions based on information that is readily available in memory. This means that they rely on the most recent or easily recalled examples to evaluate new information. For example, if someone easily remembers instances of a certain event or scenario, they may assume that it is more representative or likely to happen, even if the statistical probabilities suggest otherwise.