
Unit 1: Behavioral Economics
Quiz
•
Other
•
9th - 12th Grade
•
Practice Problem
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Easy
Laken Honea
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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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