
Unit 3 TEST REVIEW
Authored by Erika Jones
Other
10th Grade
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57 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cognitive bias where people prefer to avoid losses rather than acquiring equivalent gains?
Endowment effect
Loss aversion
Sunk cost fallacy
Overconfidence
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which cognitive bias involves continuing an endeavor once an investment in money, effort, or time has been made?
Herd mentality
FOMO
Sunk cost fallacy
Confirmation bias
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the bias where people value things more highly simply because they own them?
Endowment effect
Overconfidence
Loss aversion
Herd mentality
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which bias describes the fear of missing out on something others are experiencing?
Confirmation bias
FOMO
Sunk cost fallacy
Endowment effect
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the cognitive bias where people tend to conform to the actions or beliefs of a larger group?
Herd mentality
Overconfidence
Loss aversion
Endowment effect
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which bias involves favoring information that confirms one's preexisting beliefs or hypotheses?
Overconfidence
Confirmation bias
FOMO
Sunk cost fallacy
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the term for the bias where people have excessive confidence in their own answers or abilities?
Loss aversion
Endowment effect
Overconfidence
Herd mentality
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