Behavioural Economics - CORRECT ANSWER-Integrates psychology with
economics to explain consumer behavior.
Bounded Rationality - CORRECT ANSWER-Humans make irrational decisions due
to limitations.
Heuristics - CORRECT ANSWER-Mental shortcuts for quicker economic decision-
making.
Bounded Willpower - CORRECT ANSWER-Limited self-control affects consumer
choices and decisions.
Present Bias - CORRECT ANSWER-Overvaluing immediate rewards over future
benefits.
Bounded Self-Interest - CORRECT ANSWER-Consumers consider fairness, not just
personal gain.
economics to explain consumer behavior.
Bounded Rationality - CORRECT ANSWER-Humans make irrational decisions due
to limitations.
Heuristics - CORRECT ANSWER-Mental shortcuts for quicker economic decision-
making.
Bounded Willpower - CORRECT ANSWER-Limited self-control affects consumer
choices and decisions.
Present Bias - CORRECT ANSWER-Overvaluing immediate rewards over future
benefits.
Bounded Self-Interest - CORRECT ANSWER-Consumers consider fairness, not just
personal gain.