Immerse yourself in the realm of irrational behavior within economics with our quiz. Challenge your understanding of unpredictable economic decisions through 5 thought-provoking questions. Uncover the intricacies of irrational choices, cognitive biases, and behavioral anomalies. Test your knowledge, unravel the mysteries of economic behavior, and enhance your comprehension of the fascinating world of irrational decision-making.

Few Questions in

• What is the 'Endowment Effect,' and how does it contribute to irrational economic behavior?
• In economics, what does 'Inflation' refer to?
• What economic concept is represented by the formula: GDP = Consumption + Investment + Government Spending + Net Exports?
• What economic concept is represented by the formula: M1 = Currency in circulation + Demand deposits + Other liquid assets?
• How does the 'Framing Effect' influence decision-making?
• In the context of economic anomalies, what does a high price elasticity of demand indicate?
• How does the 'Monty Hall Problem' challenge intuition in probability?
• How does 'Moral Hazard' influence decision-making in the context of financial markets?
• What does 'Perfectly Elastic Demand' imply about the responsiveness of quantity demanded to changes in price?
• How does 'Gini Coefficient' measure income inequality?
• What does 'Creative Destruction' signify in economic theory?