WorksheetsNGPF Money Matters Unit 1 Vocabulary
Total questions: 18
Worksheet time: 54mins
Fill in the blank: The subfield of economics that applies psychological insights into human behavior and to explain economic (a)
Fill in the blank: A subconscious error in thinking that leads to irrational decision making is called (a) .
Fill in the blank: The tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence is known as (a) ?
Fill in the blank: The tendency to put more value on things you already own is called the (a)
Fill in the blank: 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, is known as (a)
Fill in the blank: The tendency to return to a baseline level of happiness regardless of whether you go through a positive or negative experience or event is called (a)
Fill in the blank: The tendency to conform to the behaviors and beliefs of the people around you is known as (a)
Fill in the blank: The tendency to regard losses as considerably more important than gains of comparable magnitude is called (a)
What is the term for the following definition? The tendency people have to be more confident in their own abilities.
(a)
What is the term for the following definition? When a person believes they are better at something than they actually are.
(a)
What is the term for the following definition? A strategy used to combat loss aversion by imagining that overnight something you own has been replaced with cash, then determining whether you would prefer to keep the cash or buy the item back.
(a)
What is the term for the following definition? When a person mistakenly believes they are better than others.
(a)
What is the term for the following definition? When a person has an exaggerated certainty that an answer is correct.
(a)
What is the term for the following definition? The use of social media platforms and websites to promote a product or service.
(a)
What is the term for the following definition? Costs that have already been incurred and cannot be recovered.
(a)
What is the term for the following definition? The tendency to make decisions about a current situation based on what resources you have already invested in the situation.
(a)
Hot Dog City is competing for business with Hot Dog Town. Which incentive would most likely entice customers to eat at Hot Dog City?
Hot Dog City advertises that it has been in business for ten years.
Hot Dog City decreases their supply of Hot Dogs to create a scarcity situation.
Hot Dog City offers a free drink with the purchase of a hot dog.
Hot Dog City raises their prices in order to make more money per sale.
(a) involves a person seeking out information and emphasizing information that supports their preconceived ideas, while (b) involves outright rejecting information that disproves one's preconceived ideas
