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DC Fin Lit - Mod 1

Authored by Christine Swantek

Business

9th - 12th Grade

Used 6+ times

DC Fin Lit - Mod 1
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Behavioral economics and financial behaviorists believe that

We can't predict how people will make financial decisions

People always behave in a rational way when making financial decisions

People will re-evaluate their viewpoints when they receive new information

People do not always behave in a rational way when making economic decisions

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between salary levels and happiness?

Higher salary levels consistently lead to higher levels of happiness, with no exceptions.

There is no relationship

Most people are satisfied with their salary.

People become accustomed to salary levels and eventually want to earn more.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

FOMO, the Fear of Missing Out, is best demonstrated by which of the following?

Avery wants to go to the Taylor Swift concert that all of her friends have seen and raved about

John takes a cycling class after seeing a sign for the class at his gym

Cindy see a new cell phone advertised and decides to buy it

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Cognitive bias is...

The belief that a person should change their opinions when new facts arise

A rational decision based on facts

An error in the way we think that can influence our decisions

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How has social media marketing evolved over the past few decades?

Modern marketing use detailed consumer data to create personalized ads for each user

How has social media marketing evolved over the past few decades?

Modern marketing urges you to create financial decisions that align with your goals

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jack spends all day Sunday seeing new homes, but none are what he wants. What is his sunk cost he should ignore when deciding whether or not to make an offer on a house that day?

The cost of the home inspection

The cost of the house

The time and gas money he spent looking at houses that day

The time and gas money he will spend in the future looking at more houses

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What psychological concept refers to the tendency of individuals to strongly prefer avoiding losses over acquiring equivalent gains

opportunity cost

risk aversion

loss aversion

delayed gratification

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