#1
Which cognitive process involves acquiring information from the environment through the senses?
Memory
Perception
Decision Making
Problem Solving
#2
According to the Prospect Theory, individuals are more sensitive to potential losses than gains. What term describes this phenomenon?
Endowment Effect
Framing Effect
Loss Aversion
Sunk Cost Fallacy
#3
According to Herbert Simon's concept of 'bounded rationality,' what limits an individual's ability to make perfectly rational decisions?
Limited information
Unlimited cognitive abilities
Perfect information processing
Avoiding decision-making altogether
#4
In the context of decision making, what is the 'paradox of choice'?
Having too many options can lead to decision paralysis and dissatisfaction
The more choices, the better the decision-making outcome
Avoiding making decisions altogether is the best approach
Decisions should always be made quickly without much thought
#5
Which cognitive process involves identifying and defining a problem in order to find a solution?
Perception
Memory
Problem Solving
Decision Making
#6
What is the 'status quo bias' in decision making?
A preference for maintaining the current situation rather than making changes
An inclination to always choose the most innovative option
A tendency to avoid making decisions altogether
A bias towards the newest information available
#7
In decision making, what does the term 'anchoring' refer to?
The tendency to rely too heavily on the first piece of information encountered
Weighing the pros and cons of each option
Making decisions based on intuition
Avoiding making decisions altogether
#8
Which cognitive bias involves attributing positive events to one's character but attributing negative events to external factors?
Confirmation Bias
Fundamental Attribution Error
Availability Heuristic
Hindsight Bias
#9
Which cognitive bias involves estimating the probability of an event based on its similarity to a prototype?
Representativeness Heuristic
Anchoring Bias
Availability Heuristic
Sunk Cost Fallacy
#10
What is the 'framing effect' in decision making?
The tendency to rely too heavily on the first piece of information encountered
The way information is presented can influence decision-making outcomes
Making decisions based on intuition
Avoiding making decisions altogether
#11
In the context of decision making, what does the term 'satisficing' mean?
Maximizing utility by considering all possible options
Accepting a satisfactory option rather than pursuing the optimal one
Avoiding making decisions altogether
Using heuristics to make decisions quickly
#12
Which cognitive bias involves giving more weight to information that comes to mind quickly?
Confirmation Bias
Recency Bias
Availability Heuristic
Anchoring Bias
#13
What is 'groupthink' in the context of decision making?
A systematic and rational approach to group decision making
The tendency of a group to conform and avoid conflict, leading to poor decision outcomes
Optimizing decision outcomes through collaboration
Avoiding group decision-making altogether
#14
What role does the prefrontal cortex play in decision making?
It is not involved in decision making
It regulates emotions and social behavior but not decision making
It is crucial for executive functions and decision making
It is responsible for motor skills but not decision making
#15
In the Dual-Process Theory of decision making, what distinguishes System 1 from System 2?
System 1 is intuitive and automatic, while System 2 is analytical and deliberate
System 1 is analytical and deliberate, while System 2 is intuitive and automatic
Both systems are identical in their processes
Neither system is involved in decision making
#16
Which part of the brain is associated with emotional processing and can influence decision making?
Amygdala
Hippocampus
Cerebellum
Thalamus
#17
What is 'bounded rationality' in the context of decision making?
Making decisions solely based on intuition
Perfectly rational decision making without any limitations
Making decisions within the constraints of available information and cognitive limitations
Avoiding making decisions altogether
#18
What is the main focus of the 'garbage can model' of decision making?
A systematic and rational approach to decision making
The randomness and chaos inherent in decision-making processes
Optimizing decision outcomes
Avoiding decision-making altogether
#19
What is 'decision fatigue'?
Enhanced decision-making ability through practice
The deteriorating quality of decisions after a long session of decision making
Avoiding making decisions altogether due to exhaustion
Rapid decision-making without considering options
#20
In the context of decision making, what does the term 'overconfidence bias' refer to?
Underestimating one's abilities and knowledge
Balanced self-assessment
Overestimating one's abilities and knowledge
Avoiding self-assessment altogether