Behavioral Economics

Behavioral Economics

9th - 12th Grade

20 Qs

quiz-placeholder

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Behavioral Economics

Behavioral Economics

Assessment

Quiz

Business

9th - 12th Grade

Medium

Created by

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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