Why We Make Bad Financial Choices Quiz

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Why We Make Bad Financial Choices: a General level Economics quiz. Test your knowledge with 15 questions!
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Questions

Question 1
What is the term for when people prefer avoiding losses over acquiring equivalent gains?
A Market efficiency
B Profit seeking
C Loss aversion
D Rational choice
Question 2
Which bias causes people to rely too heavily on the first piece of information they hear?
A Confirmation bias
B Anchoring
C Herd mentality
D Availability heuristic
Question 3
When individuals follow the actions of the majority, it is known as:
A Herd behavior
B Strategic planning
C Individualism
D Market equilibrium
Question 4
What is the tendency to value an item more simply because you own it?
A Endowment effect
B Discounting
C Sunk cost fallacy
D Impulse buying
Question 5
Which concept explains why people continue a project just because they have already invested in it?
A Utility maximization
B Sunk cost fallacy
C Opportunity cost
D Diminishing returns

📋 This quiz has 15 questions in total.

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