
2.4 - Behaviour Economics
Authored by Jessica Dawson
Social Studies
11th Grade
Used 1+ times

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12 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to classical economic theory, what is the assumption regarding consumer rationality?
Consumers have perfect information
Consumers make irrational decisions
Consumers always make rational decisions
Consumers aim to maximize their happiness
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which statement best describes the concept of 'bounded rationality' in consumer behavior?
Consumers having perfect information
Consumers maximizing their utility without constraints
Consumers following a rule of thumb due to limited cognitive resources
Consumers always acting in their self-interest
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term used to describe the context in which something is seen and perceived, creating a bias in decision-making?
Framing
Availability
Bounded rationality
Anchoring
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the main objective of profit maximization according to classical and neo-classical theory?
Corporate social responsibility
Market share
Growth
Profit maximization
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of a "default choice"?
Offering healthier menu options in schools
Automatically enrolling individuals in organ donation unless they opt-out
Providing subsidies for electric vehicle purchases
When Alice goes to renew her driver's license, she is presented with the question about organ donation. She must select "Yes" or "No" before she can proceed with her renewal
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the approach where firms attempt to produce responsibly towards the community and environment?
Market share
Corporate social responsibility
Profit maximization
Growth
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of "anchoring" in consumer decision-making?
Comparing all available options before making a choice
Being influenced by the first piece of information encountered
Choosing products based on their environmental impact
Using a general guideline instead of detailed analysis
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