Behavioral Economics

5. the study recognizes that human beings are influenced by emotions, cognitive biases, heuristics (mental shortcuts), and social influences, leading to choices that may be irrational in an economic sense.
6. IB Econ SL teacher
7. Whether you're celebrating a holiday, a birthday, or a graduation party, let Wegmans Catering help you create the perfect cake!
8. IB Econ HL teacher
11. Italian brainrot, an ape with a banana as a body, who has been described as "indestructible"

1. the tendency to continue with a decision, even if it's not the best course of action because you've already invested time or money into it..
2. IB Econ SL teacher
3. subjective worth individuals place on their time, like when making decisions that involve trade-offs between time and money.
4. pain experienced from losing something is more impactful than the pleasure gained from an equivalent gain.
6. the loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is distorted
9. Economist of the 1920s-1940s who emphasized counter-cyclical spending
10. author of Wealth of Nations