Behavioral Economics Vocabulary

Behavioral Economics Vocabulary

7th Grade

22 Qs

quiz-placeholder

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Behavioral Economics Vocabulary

Behavioral Economics Vocabulary

Assessment

Quiz

Life Skills

7th Grade

Easy

Created by

itssaaliyahh .

Used 17+ times

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22 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Behavioral economics

systematic error in thinking

helps make the difference between rational and irrational decisions

economic decisions that determine your behavior

things you buy based on your mood or emotions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cognitive Bias

decision making

systematic error in thinking that affects judgements and decisions

makes you decide if what your buying is rational

mistakes digitally

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Confirmation Bias

only confirming what we want to believe or think thats true

confirming every question you think

information that solves formulas

thinking every question we have is true

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Endowment Effect

owning things that cost more than they should

the tendency to put more value on things you don't own

the tendency to put more value on things you already own

buying everything because there is always sales

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FOMO

events that cost money and are cheap

fear of missing out without spending a certain amount of money

exciting or interesting events that you get to attend with your friends for free

the fear of missing out on exciting or interesting events

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You often spend more money due to FOMO

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

You spend less amount of money than usually due to FOMO

True

False

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