Behavioural Economic Theory (AQA A-Level Economics): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does behavioural economics combine with traditional economic analysis?
What does behavioural economics combine with traditional economic analysis?
Insights from psychology
What does the traditional 'homo economicus' model assume about individuals?
What does the traditional 'homo economicus' model assume about individuals?
They are perfectly rational & informed
Which three constraints define bounded rationality?
Which three constraints define bounded rationality?
Limited info, mental ability & time
What does 'satisficing' mean in decision-making?
What does 'satisficing' mean in decision-making?
Accepting 'good enough' outcomes
Which thinking system is fast, intuitive, and instinctive?
Which thinking system is fast, intuitive, and instinctive?
System 1
What is the availability bias?
What is the availability bias?
Overweighting easily recalled events
What does anchoring involve?
What does anchoring involve?
Relying too heavily on first info
What is the key difference between nudges and sanctions?
What is the key difference between nudges and sanctions?
Nudges don't restrict choice
What is altruism?
What is altruism?
Acting for others despite personal cost
When was the UK's Behavioural Insights Team established?
When was the UK's Behavioural Insights Team established?
2010