
Understanding Monkey Economics and Human Biases
Interactive Video
•
Business, Social Studies, Psychology
•
10th Grade - University
•
Hard

Aiden Montgomery
FREE Resource
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a key characteristic of economic biases according to the introduction?
They are only present in modern societies.
They are unique to humans.
They are deeply ingrained and possibly evolutionary.
They are easy to overcome.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the implication of biases for laypeople making economic decisions?
They should ignore biases.
They should be aware of biases affecting their choices.
They should rely on instinct.
They should follow expert advice blindly.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do monkeys demonstrate similar economic biases to humans?
By paying attention to reference points and arbitrary pricing.
By making decisions based on absolute values.
By ignoring reference points.
By being unaffected by arbitrary pricing.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do advertisers exploit economic biases?
By ignoring consumer behavior.
By setting arbitrary reference points to influence perception of value.
By providing absolute price comparisons.
By offering only high-priced items.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a challenge mentioned in overcoming evolved biases?
They are easy to change with education.
They are not influenced by external factors.
They are deeply rooted and difficult to change.
They are only present in certain cultures.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential policy implication of evolved biases?
Policies should be designed to account for biases.
Biases have no impact on policy.
Biases should be eliminated before policy design.
Policies should ignore biases.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is 'choice architecture' as discussed in the video?
A system to ensure unbiased decision-making.
A way to structure choices that influence behavior.
A tool to measure economic success.
A method to eliminate biases.
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