#1
Which factor is not typically considered in consumer behavior?
Cultural influences
Economic factors
Geographical location
Quantum physics
#2
Which factor does NOT influence consumer behavior?
Psychological factors
Social factors
Demographic factors
Economic factors
#3
Which theory suggests that consumers prioritize maximizing utility?
Theory of Planned Behavior
Maslow's Hierarchy of Needs
Expected Utility Theory
Social Learning Theory
#4
What does the term 'loss aversion' refer to in financial decision making?
The tendency to avoid losses more than acquiring gains
The preference for high-risk investments
The tendency to disregard potential losses
The focus solely on potential gains
#5
Which concept suggests that individuals often make irrational decisions based on mental shortcuts or biases?
Rational choice theory
Prospect theory
Heuristics
Expected utility theory
#6
Which psychological concept explains the tendency of individuals to conform to the actions or opinions of others in a group?
Cognitive dissonance
Social proof
Group polarization
Confirmation bias
#7
What is the term used to describe the tendency to attribute successes to internal factors and failures to external factors?
Self-serving bias
Fundamental attribution error
Confirmation bias
Optimism bias
#8
Which behavioral finance concept suggests that investors tend to hold onto losing investments for too long?
Prospect theory
Herding behavior
Disposition effect
Overconfidence bias
#9
In behavioral economics, what does the term 'anchoring' refer to?
The tendency to rely heavily on the first piece of information encountered
The tendency to base decisions on recent events
The tendency to avoid making decisions
The tendency to seek advice from others
#10
What is the term for the phenomenon where individuals overestimate the probability of rare events?
Recency bias
Base rate fallacy
Availability heuristic
Overconfidence bias
#11
Which theory posits that individuals tend to overestimate the likelihood of events that are easily brought to mind?
Prospect theory
Framing theory
Availability heuristic
Anchoring and adjustment
#12
Which cognitive bias refers to the tendency to place undue importance on the first piece of information encountered?
Confirmation bias
Anchoring bias
Recency bias
Availability heuristic
#13
Which theory suggests that individuals are more motivated to avoid losses than to acquire gains?
Rational choice theory
Prospect theory
Expected utility theory
Value perception theory
#14
In financial decision making, what does 'sunk cost fallacy' refer to?
The tendency to consider past costs irrelevant to current decisions
The tendency to make decisions based on the amount of time or money already invested
The tendency to underestimate the potential for future costs
The tendency to overestimate the potential for future gains