Understanding Behavioral Economics

Understanding Behavioral Economics

9th Grade

10 Qs

quiz-placeholder

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Understanding Behavioral Economics

Understanding Behavioral Economics

Assessment

Interactive Video

Financial Education

9th Grade

Hard

Created by

Joycelyn Austin-Mabe [Sedway MS]

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary focus of behavioral economics?

Analyzing international trade policies

Calculating GDP growth

Understanding psychological influences on decision-making

Predicting stock market trends

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does bounded rationality refer to in economics?

The belief that prices always reflect true value

The assumption that all consumers are perfectly rational

The concept that people make decisions with limited information and time

The idea that people have unlimited time and information

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can perceptions of price affect consumer behavior?

Perceptions of price can change the perceived quality of a product

Lower prices always lead to higher demand

Higher prices always lead to lower demand

Price perceptions have no impact on consumer behavior

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the ultimatum game, why might a player reject an unfair offer?

Because they prefer to have nothing

Due to a sense of fairness and justice

To maximize their own gain

Because they don't understand the game

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the framing effect?

The process of making decisions based on past experiences

The belief that framing has no effect on choices

The idea that all decisions are made rationally

The impact of how information is presented on decision-making

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What does nudge theory aim to do?

Eliminate all unhealthy options

Limit the options available to consumers

Force people to make certain choices

Encourage specific behaviors without restricting choices

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does loss aversion influence decision-making?

People are indifferent to losses and gains

Losses are perceived as less significant than gains

Losses are more painful than equivalent gains are pleasurable

Gains are always prioritized over losses

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