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Economics Quiz

Authored by Francesca undefined

Business

12th Grade

Used 1+ times

Economics Quiz
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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the principle of bounded rationality according to Herbert Simon?

Emotional decision-making

Random decision-making process

Unlimited rationality in decision-making

Limited rationality due to cognitive limitations

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which system is described as non-conscious, effortless, and lazy?

System 1

Emotional self

System 2

Rational self

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the definition of cognitive illusions?

Conscious patterns of deviation from norm

Random patterns of deviation from logic

Situations where the mind systematically misinterprets information

Logical and rational decision-making

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the affect heuristic?

A mental shortcut based on cognitive biases

A process of rational decision-making

A mental shortcut involving emotional responses

A method to eliminate cognitive illusions

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What percentage of brain activity is non-conscious?

5%

50%

75%

95%

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main function of habits according to the text?

To create emotional responses

To simplify decisions and reduce cognitive effort

To complicate decision-making

To increase cognitive effort

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the role of the nucleus accumbens in habit formation?

It is activated when we crave something

It is responsible for emotional self-control

It activates when we avoid rewards

It signals the brain when a routine is bad

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