NGPF MU 2 Behavioral Finance Quiz

Based on the infographic by XCart, which social media platform has the most influence on shopping habits?

• Facebook

• Twitter

• Instagram

• Snapchat

Which of the following statements best defines UTILITY?

• What you can obtain for an item at a later time

• How helpful an item is given the context of a current situation

• How well something satisfies a person's wants or needs

• What we lose by giving up the other provided choice

Which of the following statements best defines Use Value?

• What you can obtain for an item at a later time

• How helpful an item is given the context of a current situation

• How well something satisfies a person's wants or needs

• What we lose by giving up the other provided choice

Which of the following statements best defines Opportunity Cost?

• What you can obtain for an item at a later time

• How helpful an item is given the context of a current situation

• How well something satisfies a person's wants or needs

• What we lose by giving up the other provided choice

Based on the What Do You Value? website, the following life values can have an effect on our money habits:

• Inner, Social, Physical, Financial

• Financial, Inner, Personal, Professional

• Personal, Professional, Financial, Social

• Inner, Social, Personal, Professional

In the desert-diamond paradox of value situation, why would you NOT select water EVERY time you were offered a choice between water and diamonds?

• Water is more valuable than diamonds, both physically and financially

• The use value of diamonds is higher than the use value of water

• The water will expire by the time you get to the next booth

• The utility of water decreases after your basic needs are met

Which of the following statements best describes the concept of “diminishing marginal utility”?

• The less of an item you have, the less useful or enjoyable it becomes

• The more of an item you acquire, the less useful or enjoyable it becomes

• An item’s exchange value increases over time

• An item’s use value increases over time

What type of advertising technique is this?

• Voice of Authority

• Romance Appeal

• Celebrity Endorsement/Eye Candy

• Popularity

What type of advertising technique is this?

• Bundling

• Voice of Authority

• Romance Appeal

• Hedging

Why are non-celebrities able to influence buying behavior?

• They have third party credibility

• They are more relatable, causing us to trust them

• They are paid to advertise

• They use the celebrity/eye candy appeal