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Exit Ticket 12.4, 12.5, &12.6
By Tang Xiong
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Last updated about 5 hours ago
9 questions
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Be sure to have completed the lessons for the Unit required for this exit ticket.
Be sure to have completed the lessons for the Unit required for this exit ticket.
Question 1
1.
Which of the following BEST demonstrates herd mentality?
Sophie sees an ad for a pair of shoes on Instagram and decides to buy them
Charlie decides to buy a jacket they saw a friend wearing that they really liked
Will chooses to buy product A over product B based on the hype he’s read about product A online
Juan is in a department store, sees a shirt he likes, and decides to buy it
Question 2
2.
Due to FOMO, many people are…
Saving unprecedented amounts of money for their futures
Making purchases that align with their values
Quitting social media for good, costing companies billions of dollars
Spending money they don’t have and going into debt
Question 3
3.
One realistic way to combat the influence of herd mentality and FOMO is…
Close all of your credit card accounts
Save 95% of your paycheck in a savings account
Follow a budget and align your spending with your financial goals
Immediately delete your social media profiles
Question 4
4.
Confirmation bias is…
valuing your own opinions over the opinions of others
believing that you are better at something then you actually are
the tendency to interpret new evidence as proof of one's existing beliefs or theories
an exaggerated certainty that a person is correct
Question 5
5.
76 percent of Americans think they are above average drivers. This is an example of ...
Overprecision
Confirmation Bias
Overplacement
Overestimation
Question 6
6.
Roger finds a stock that he has interest in buying. To avoid overconfidence he should ...
wait two to three days before making a purcahse
Wait until the cost comes down before buying the stock
Not purchase the stock because it is not worth the risk
Find sources that contradict his viewpoint
Question 7
7.
Rita purchases a new jacket. What would you expect to happen over time due to hedonic adaptation?
Rita’s happiness will initially increase and then decrease to her baseline level of happiness over time
Rita’s happiness will increase and she’ll remain at her new, higher level of happiness
Rita’s happiness will initially decrease and then increase over time
Rita’s happiness will initially decrease and she’ll remain at her new, lower level of happiness
Question 8
8.
Which of the following is TRUE about spending money on things?
The media plays a very small role in influencing our purchasing decisions
Once a person earns a certain salary, they no longer feel the desire to buy more things
Buying things is always better than spending money on experiences
Buying things that align with your personality and values may actually increase your happiness
Question 9
9.
Isaiah learned about hedonic adaptation and wants to spend his money more wisely. All of the following actions align with his goal EXCEPT…
After a month of a new phone case, he buys a new one
Buying a new cookbook so he can try different recipes for his family
Registering for a painting class that he’s always wanted to try
Donating money to a local charity that supports a cause he cares about