Behavioral Economics
Quiz
•
Business
•
9th - 12th Grade
•
Medium
Evan Ozdemir
Used 61+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the feelings of anxiety that arise from the belief that you may be missing out on rewarding experiences that others are having
The Bandwagon Effect
Herd Mentality
The Endowment Effect
Fear of Missing Out (FOMO)
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the tendency people have to be more confident in their own abilities, such as driving, teaching, or spelling, than is objectively reasonable
Overconfidence Bias
The Bandwagon Effect
Confirmation Bias
Loss Aversion
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
refers to an emotional bias that causes individuals to value an owned object higher, often irrationally, than its market value
Confirmation Bias
Endowment Effect
Fear of Missing Out (FOMO)
Loss Aversion
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the tendency to process information by looking for, or interpreting, information that is consistent with one’s existing beliefs
Loss Aversion
Mental Accounting
Overconfidence Bias
Confirmation Bias
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the phenomenon where a real or potential loss is perceived by individuals as psychologically or emotionally more severe than an equivalent gain
Mental Accounting
Bandwagon Effect
Loss Aversion
Confirmation Bias
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the phenomenon where a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial
Endowment Effect
Sunk Cost Fallacy
Confirmation Bias
Bandwagon Effect
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
the amount of pain (or pleasure) we get from feeling like we paid more (or less) than something is really worth
Sunk Cost Fallacy
Mental Accounting
Confirmation Bias
Transaction Utility
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