Economics - Cognitive Biases Quiz

Dive into the world of cognitive biases with our Economics Quiz. Test your understanding of how psychological factors influence economic choices and explore answers to enlightening questions.

Topics covered in this Economics - Cognitive Biases Quiz

• Introduction to Cognitive Biases
• Confirmation Bias
• Overconfidence
• Loss Aversion
• Anchoring Effect
• Status Quo Bias
• Endowment Effect
• Framing Effect
• Availability Heuristic
• Representativeness Heuristic

Few Questions in Economics - Cognitive Biases Quiz

• Which cognitive bias involves placing greater importance on the first piece of information encountered?
• Which cognitive bias involves the tendency to focus on the negative more than the positive?
• Which cognitive bias involves the tendency to overvalue things that are familiar or known?
• What is the tendency to seek out or interpret information in a way that confirms one's preexisting beliefs?
• What is the tendency to give greater weight to information that is more recent?
• Which bias involves the tendency to believe that the majority agrees with one's own beliefs or views?
• What is the cognitive bias where individuals make judgments or decisions based on information that is readily available or easily retrievable?
• What cognitive bias refers to the tendency for people to favor information that confirms their pre-existing beliefs or values?
• Which bias involves the belief that the majority is always right, or that if most people believe something, it must be true?
• What cognitive bias involves the tendency to perceive a relationship between two unrelated events, or to perceive patterns in random data?
• What is the term for the tendency to believe that if a certain event occurs more frequently than normal during some period, it will happen less frequently in the future?