What is an example of Occam's razor?
Thereof, why is it called Occam's Razor?
The term "Occam's Razor" comes from a misspelling of the name William of Ockham. Ockham was a brilliant theologian, philosopher, and logician in the medieval period. The idea is always to cut out extra unnecessary bits, hence the name "razor." An example will help illustrate this.
In this way, how do you explain Occam's Razor?
Occam's razor (or Ockham's razor) is a principle from philosophy. Suppose there exist two explanations for an occurrence. In this case the one that requires the smallest number of assumptions is usually correct. Another way of saying it is that the more assumptions you have to make, the more unlikely an explanation.
Occam's Razor is not a fallacy, but it's not a proof either. The fact that you think Occam's Razor discounts a given explanation for events doesn't prove that explanation right or wrong, it's just a useful guideline.