Personal Finance

Fill in the blank: ________ is the subfield of economics that applies psychological insights into human behavior and to explain economic decision making.

• Behavioral Economics

• Macroeconomics

• Econometrics

• Development Economics

Fill in the blank: ________ is a subconscious error in thinking that leads to irrational decision making.

• Cognitive Bias

• Logical Reasoning

• Emotional Intelligence

• Critical Thinking

Fill in the blank: ________ is the tendency to search for information that supports our preconceptions and to ignore or distort contradictory evidence.

• Confirmation Bias

• Availability Heuristic

• Anchoring Effect

• Cognitive Dissonance

Fill in the blank: FOMO (Fear of Missing Out) is the tendency to feel ______/fear that an exciting or interesting event may currently be happening elsewhere, often aroused by posts seen on a social media website.

• anxiety

• happiness

• boredom

• relief

Fill in the blank: ________ is the tendency to regard losses as considerably more important than gains of comparable magnitude.

• Loss Aversion

• Anchoring Bias

• Confirmation Bias

• Optimism Bias

Fill in the blank: ________ is when a person believes they are better at something than they actually are.

• Overestimation

• Underestimation

• Perfectionism

• Pessimism

Fill in the blank: ________ is when a person mistakenly believes they are better than others.

• Overplacement

• Underplacement

• Overconfidence

• Imposter syndrome

Fill in the blank: Social Media Marketing is the use of social media platforms and websites to ________ a product or service.

• promote

• ignore

• hide

• destroy

Fill in the blank: Sunk costs are costs that have already been ______ and cannot be recovered.

• incurred

• planned

• avoided

• predicted

What word is written on the sign shown in the image?

• GO

• STOP

• YIELD

• SLOW