Question 1
Inertia means:
A.
Perfect information B.
Resistance to changing behaviour C.
Always rational choice D.
Maximum profit
Question 2
What is meant by alcohol consumption?
A.
Behaviour influenced by others' expectations. B.
Studies limits to rational choice. C.
Driven by mood, habit, anxiety and social norms. D.
Consumers may aim but not always achieve it.
Question 3
What is meant by nudge?
A.
Driven by mood, habit, anxiety and social norms. B.
Choices that do not maximise long-run welfare. C.
Policy steering choices without bans. D.
Tendency to do nothing or remain unchanged.
Question 4
What is meant by irrational behaviour?
A.
Past behaviour influences current choices. B.
Choices that do not maximise long-run welfare. C.
Valuing immediate rewards over future costs. D.
Tendency to do nothing or remain unchanged.
Question 5
What is meant by inertia?
A.
Past behaviour influences current choices. B.
Policy steering choices without bans. C.
Behaviour influenced by others' expectations. D.
Tendency to do nothing or remain unchanged.
Question 6
What is meant by computational weaknesses?
A.
Valuing immediate rewards over future costs. B.
Past behaviour influences current choices. C.
Difficulty calculating probabilities when deciding. D.
Driven by mood, habit, anxiety and social norms.
Question 7
What is meant by social norms?
A.
Tendency to do nothing or remain unchanged. B.
Studies limits to rational choice. C.
Behaviour influenced by others' expectations. D.
Choices that do not maximise long-run welfare.
Question 8
What is meant by habit?
A.
Policy steering choices without bans. B.
Difficulty calculating probabilities when deciding. C.
Behaviour influenced by others' expectations. D.
Past behaviour influences current choices.
Question 9
Behavioural economics suggests consumers:
A.
Ignore prices B.
May not always maximise utility C.
Never use habits D.
Always maximise utility
Question 10
What is meant by behavioural economics?
A.
Behaviour influenced by others' expectations. B.
Studies limits to rational choice. C.
Valuing immediate rewards over future costs. D.
Consumers may aim but not always achieve it.
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