Lesson  1 Behavioral Economics Vocabulary Review

Lesson 1 Behavioral Economics Vocabulary Review

9th - 12th Grade

16 Qs

quiz-placeholder

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Lesson  1 Behavioral Economics Vocabulary Review

Lesson 1 Behavioral Economics Vocabulary Review

Assessment

Quiz

Business

9th - 12th Grade

Practice Problem

Easy

Created by

Lenora Manna

Used 14+ times

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16 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

behavioral economics

confirmation bias

social media marketing

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A subconscious error in thinking that leads to irrational decision making

overestimation

cognitive bias

endowment effect

FOMO

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

confirmation bias

hedonic adaptation

sunk cost

loss aversion

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The tendency to put more value on things you already own

endowment effect

sunk cost fallacy

FOMO (fear of missing out)

overplacement

5.

MULTIPLE CHOICE QUESTION

1 min • 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)

overnight test

endowment effect

hedonic adaptation

6.

MULTIPLE CHOICE QUESTION

1 min • 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

overplacement

overprecision

social media marketing

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

loss aversion

herd mentality

hedonic adaptation

overestimation

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