What is the primary focus of behavioral economics?

Behavioral Economics Concepts and Applications

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Business
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11th - 12th Grade
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Hard

Patricia Brown
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The study of market trends
The study of economic policies
The study of psychological influences on economic decisions
The study of financial markets
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Who is considered one of the early contributors to the field of behavioral economics?
John Maynard Keynes
Milton Friedman
Adam Smith
Paul Samuelson
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What concept did Herbert Simon introduce that challenged the assumption of perfect rationality?
Loss Aversion
Bounded Rationality
Mental Accounting
Prospect Theory
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which theory explains why people might prefer avoiding losses over acquiring equivalent gains?
Prospect Theory
Bounded Self-Interest
Mental Accounting
Availability Heuristic
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the availability heuristic?
A method of saving money
A strategy for making investments
A way to calculate risk
A tendency to rely on easily recalled information
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In which field is behavioral economics used to design programs that encourage healthier choices?
Finance
Marketing
Healthcare
Education
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do businesses use behavioral economics in marketing?
To calculate taxes
To manage employee benefits
To design new products
To set prices and offers that seem more appealing
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