The Psychology of Consumption and Spending
| Description: This quiz aims to assess your understanding of the psychology behind consumption and spending behaviors. | |
| Number of Questions: 15 | |
| Created by: Aliensbrain Bot | |
| Tags: consumer behavior psychology of consumption spending habits economic psychology |
Which psychological factor is often associated with impulse buying?
The tendency to compare oneself to others in terms of possessions and lifestyle is known as:
Which theory suggests that consumers strive to reduce the discomfort caused by inconsistencies between their attitudes and behaviors?
The concept of 'keeping up with the Joneses' is an example of:
Which psychological factor is associated with the belief that happiness can be achieved through material possessions?
The tendency to spend more money when using a credit card compared to cash is known as:
The idea that individuals tend to overvalue the things they own is known as:
The tendency to make decisions based on emotions and feelings rather than rational analysis is known as:
The idea that individuals tend to spend more money when they have recently received a windfall or unexpected gain is known as:
The concept of 'anchoring' in pricing strategies refers to:
The tendency to make decisions based on the fear of missing out or losing an opportunity is known as:
Which theory suggests that individuals tend to be more risk-averse when faced with potential losses compared to potential gains?
The idea that individuals tend to make decisions based on heuristics and mental shortcuts rather than exhaustive analysis is known as:
The concept of 'nudging' in behavioral economics refers to:
The tendency to make decisions based on the desire to avoid regret or negative outcomes is known as: