You see an advertisement promoting a sale “for a limited time only!” with a countdown clock. Which bias is being used?
Behavioral Economics

Quiz
•
Business, Life Skills
•
9th - 12th Grade
•
Medium
Next Gen Personal Finance undefined
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20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Herd Mentality
Loss Aversion
Hedonic Adaptation
Fear of Missing Out (FOMO)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Behavioral economics is …
The study of how rational people make economic decisions
The study of how irrational factors affect individual’s economic decisions
The study of how economies around the world interact with each other
The study of how investors choose which stocks to buy and sell
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Guy bought tickets to a concert but there is a bad snow storm. He decides to go anyway because he paid for it. This is
Sunk Cost Fallacy
Endowment Effect
Overconfidence
Herd Mentality
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ally signs up for a Netflix trial. Because she “owns” a full account, she places high value on it and signs up. This is
Loss Aversion
Herd Mentality
Overprecision
The Endowment Effect
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Peter can choose from two retirement accounts. Fearing a loss, he opts for the more conservative one. This is a type of
Confirmation Bias
Overconfidence
Loss Aversion
Fear of Missing Out (FOMO)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Paula sees her friends' pictures of a concert that she couldn't attend because of work. She feels like an outsider.
Paula is experiencing Fear of Missing Out (FOMO)
Paula is experiencing Herd Mentality
Paula is experiencing Loss Aversion
Paula is experiencing Confirmation Bias
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an example of loss aversion?
Selling your house at a loss to find a better investment opportunity
Believing that your house is worth more than it is because you own it
Deciding against selling your house below what you purchased it for
Only looking at sources that reinforce a higher selling value for your home
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