Wk 1: Exit Ticket 1.1, 1.2 and 1.3 - Tang Xiong | Library

Required

2

Why is it beneficial for Naresh to deposit part of his paycheck into a savings account regularly?

To use the savings for immediate purchasing needs

To build an emergency fund for unexpected expenses

To increase his spending money for the current month

To avoid paying taxes on his income

Required

2

She followed a budget template from her finance class without changes

She based her budget on how much money she earns

She allocated money only to immediate needs without long-term planning

She chose spending categories that align with her personal beliefs and priorities

Required

2

They determine how much money an individual can earn.

They set strict rules about the types of investments one can make.

They shape beliefs about spending, saving, and sharing money in society.

They are unrelated to financial decisions and budgeting.

Required

2

The calculation of interest rates in financial markets

The impact of government policies on market equilibrium

The history of economic theories

The influence of psychological factors on economic decision-making

Required

2

A type of mental illness

A technique for enhancing memory retention

A systematic error in thinking that affects judgments and decisions

A method for increasing critical thinking skills

Required

2

Availability Heuristic

Anchoring Bias

Sunk Cost Fallacy

Confirmation Bias

Required

2

Choosing to go to a new restaurant based on a recommendation.

Switching careers to follow a personal passion despite financial risk.

Continuing to watch a movie you don’t enjoy because you paid for the ticket.

Saving money from a bonus to invest in a new opportunity.

Required

2

Cognitive biases only affect individuals with mental health issues.

Cognitive biases are systematic patterns of deviation from norm or rationality in judgment.

Cognitive biases are random and have no impact on decision-making.

Cognitive biases always lead to more rational decision-making.

Required

2

Availability Heuristic: Relying on recent information he has encountered about the car model.

Confirmation Bias: Seeking out information that supports his existing preference for the car model.

Bandwagon Effect: Choosing the car model because it is popular among others.

Overconfidence Bias: Believing he knows everything there is to know about the car model.

Required

2

Evaluate the app’s performance and user feedback from a variety of platforms.

Focus solely on her friends' recommendations without considering other opinions.

Seek advice from multiple sources including financial experts and user reviews.

Conduct independent research on the investment app to assess its features and risks.