NGPF  Unit 1 - Behavior Economics Review

NGPF Unit 1 - Behavior Economics Review

11th Grade

25 Qs

quiz-placeholder

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NGPF  Unit 1 - Behavior Economics Review

NGPF Unit 1 - Behavior Economics Review

Assessment

Quiz

Financial Education

11th Grade

Medium

Created by

Robert Sharpe

Used 125+ times

FREE Resource

25 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This shows how psychological, social, and cognitive factors influence people's decision-making, often deviating from traditional economic assumptions of rationality.
Economics
Psychology
MacroEconomics
Behavior Economics

2.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

Cognitive Bias
An error in the way we think that can influence our decisions
The desire to seek out information that confirms our existing beliefs
The belief that our abilities are better than they actually are
The concept of placing more value on an item when we own it

3.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

Confirmation Bias
Our underlying tendency to notice and focus on things that already fit our beliefs
The concept of placing more value on an item when we own it
The belief that our abilities are better than they actually are
An error in the way we think that can influence our decisions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Endowment Effect
Our underlying tendency to notice and focus on things that already fit our beliefs
The belief that our abilities are better than they actually are
The tendency of people to value items that they own more highly than if they did not belong to them
When the government gives money to small businesses to stimulate growth

5.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

FOMO
Fear Of Monster Orangutans
Fear of Missing Out
Florida Oranges Mock Ostriches
Fear of making oreos

6.

MULTIPLE CHOICE QUESTION

30 sec • 4 pts

Hedonic Adaptation
The suggestion that our brains seek out new experiences
Doing only what "feels" good to do, not what is good
Following the trends of what everyone else does
None of the above

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Bandwagon Effect
Cowboys Fans and Warriors Fans
The habit of doing what you want because it feels good
The habit of adopting certain behaviors or beliefs because may others do the same
Doing things on your own for your own well thought out reasons

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