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.
Behavioral economics is….
Question 2
2.
Cognitive bias is…
Question 3
3.
You go to a restaurant and order a big meal. Even though you’re full, you keep eating because it was expensive. This is an example of...
Question 4
4.
Loss aversion is the idea that...
Question 5
5.
Which of the following loss aversion strategies best describes a streaming service that allows you to watch its content free for 30 days?
Question 6
6.
The Overnight Test is a strategy to overcome loss aversion. It involves imagining that overnight, something you own has been replaced with cash, and then deciding…
Question 7
7.
Alisha is trying to sell some of her childhood toys at a garage sale, but nobody is buying them. She suspects that she could sell them quickly if she would lower the prices, but she doesn’t want to do that because the items have sentimental value. This is an example of what?
Question 8
8.
Sunk costs are when we spend time, money, or effort that...
Question 9
9.
You purchased an expensive meal at a restaurant. Halfway through you realize you are full to the point where another bite would cause you discomfort. Which of the following scenarios is an example of allowing sunk costs to impact your decision?