Behavioral Economics Vocab Quiz

What is Behavioral Economics?

• The study of psychological insights in economics

• A method to predict stock market trends

• A theory that ignores human behavior

• A type of economic model

What is Cognitive Bias?

• A conscious decision-making process

• A subconscious error in thinking

• A method to improve rational thinking

• A type of economic model

What is Confirmation Bias?

• The tendency to seek supportive information

• The ability to make rational decisions

• A method to analyze data

• A type of cognitive therapy

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is the Endowment Effect?

• The tendency to value owned items more

• The ability to predict future events

• A method to assess market value

• A type of investment strategy

What is Hedonic Adaptation?

• The tendency to return to baseline happiness

• A method to increase happiness

• A psychological disorder

• A type of economic theory

What is Herd Mentality?

• The tendency to follow group behavior

• A method to analyze individual decisions

• A psychological condition

• A type of economic model

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

What is Loss Aversion?

• The tendency to prioritize losses over gains

• A method to calculate risks

• A psychological theory

• A type of investment strategy

What is Overconfidence Bias?

• The tendency to overestimate one's abilities

• A method to improve decision making

• A psychological condition

• A type of economic model

What is Overestimation?

• Believing one is better than they are

• A method to assess performance

• A psychological disorder

• A type of cognitive therapy

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

What is the Overnight Test?

• A strategy to combat loss aversion

• A method to assess market value

• A psychological experiment

• A type of investment strategy