#1
Which of the following is an example of an easy daily life decision-making task?
Choosing a career path
Deciding what to wear
Buying a house
Planning a vacation
#2
In the context of decision-making, what is the 'status quo bias'?
The tendency to resist change and prefer the current state of affairs
The inclination to always choose the riskiest option
The preference for immediate gratification
The reliance on expert opinions
#3
Which factor is often associated with decision fatigue in daily life?
Having too few choices
Making too many decisions in a short period
Always relying on intuition
Avoiding decisions altogether
#4
Which factor can influence ethical decision-making in daily life?
Social media trends
Personal values and beliefs
Popular opinions
Current fashion trends
#5
In daily life decision-making, what does 'satisficing' refer to?
Striving for the most optimal outcome
Accepting a satisfactory option rather than seeking the best
Avoiding all decisions
Relying solely on intuition
#6
In the context of preferences, what does the term 'opportunity cost' refer to?
The monetary cost of a choice
The value of the next best alternative foregone
The emotional cost of a decision
The time spent making a decision
#7
Which psychological phenomenon is associated with the tendency to prefer the first option presented in a decision-making scenario?
Confirmation bias
Anchoring bias
Recency effect
Sunk cost fallacy
#8
What role does emotions play in decision-making?
Emotions have no impact on decision-making
Emotions can influence preferences and choices
Emotions only affect rational decisions
Emotions only impact impulsive decisions
#9
Which decision-making model assumes that individuals are rational and make choices that maximize their utility?
Bounded rationality model
Prospect theory
Rational decision-making model
Intuitive decision-making model
#10
What is the 'regret aversion' phenomenon in decision-making?
The fear of making decisions
The avoidance of taking risks
The tendency to avoid choices that may lead to regret
The preference for immediate rewards
#11
Which of the following is an example of a decision made under conditions of uncertainty?
Choosing a restaurant with known reviews
Selecting a flight with on-time performance data
Investing in a startup with unpredictable outcomes
Picking a movie based on personal preferences
#12
What does the 'paralysis by analysis' phenomenon refer to in decision-making?
The fear of making any decision
Overthinking and being unable to make a decision
Always choosing the riskiest option
Relying solely on intuition
#13
What is the concept of 'paradox of choice' in decision-making?
Having too few options leads to dissatisfaction
Having too many options can lead to decision paralysis
Choices are always clear and straightforward
People always make optimal decisions
#14
Which cognitive bias involves giving preference to information that confirms one's pre-existing beliefs or values?
Hindsight bias
Confirmation bias
Availability heuristic
Sunk cost fallacy
#15
What is the 'framing effect' in decision-making?
The way information is presented can influence choices
The tendency to stick with the default option
The reliance on recent information
The preference for familiar options
#16
Which cognitive bias involves overestimating the likelihood of positive events and underestimating the likelihood of negative events?
Optimism bias
Pessimism bias
Overconfidence bias
Outcome bias
#17
What is the 'anchoring bias' in decision-making?
The tendency to rely on the first piece of information encountered
The inclination to avoid making decisions
The preference for recent information
The fear of regret
#18
Which decision-making model suggests that individuals often make decisions based on intuition and gut feelings?
Rational decision-making model
Intuitive decision-making model
Bounded rationality model
Prospect theory
#19
What is the 'illusion of control' in decision-making?
Believing that one has more influence or control over events than is actually the case
Avoiding all decisions to maintain control
Relying on external authorities for control
Preferring to go with the flow without any control