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Unit 1: Behavioral Economics

Authored by Laken Honea

Other

9th - 12th Grade

Used 3+ times

Unit 1: Behavioral Economics
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16 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The subfield of economics that applies psychological insights into human behavior and to explain economic decision making

Behavioral Economics

Hedonic Adaptation

Overestimation

Social Media Marketing

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A subconscious error in thinking that leads to irrational decision making

Cognitive Bias

Sunk Costs

Overnight Test

Herd Mentality

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence

Confirmation Bias

Sunk Cost Fallacy

Overplacement

Loss Aversion

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency to put more value on things you already own

Endowment Effect

Behavioral Economics

Overprecision

Overconfidence Bias

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency to feel anxiety/fear that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website

FOMO (Fear of Missing Out)

Cognitive Bias

Social Media Marketing

Overestimation

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event

Hedonic Adaptation

Confirmation Bias

Sunk Costs

Overnight Test

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The tendency to conform to the behaviors and beliefs of the people around you

Herd Mentality

Endowment Effect

Sunk Cost Fallacy

Overplacement

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