What this practice covers
These questions are drawn from past IB Economics papers and filtered to behavioural economics (critique of maximising). You answer, you find out immediately whether you were right, and you get the reasoning for the correct option and for each distractor. Wrong answers go to a mistakes locker so you can come back to exactly those.
Practice is free. You need an account only so your progress and your mistakes are still there next time.
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What examiners see students get wrong here
These are the errors that cost marks on behavioural economics (critique of maximising), taken from our own topic notes. Read them before you practise and you will recognise the traps in the questions.
- Claiming behavioural economics shows people are "irrational". It shows rationality is bounded and that deviations are systematic.
- Confusing the three bounds, rationality is about capacity, self-control about acting on intentions, selfishness about caring for others.
- Describing a nudge that removes choice. A nudge preserves the option; if choice is removed it is regulation.
- Treating nudges as costless and universally effective.
- Presenting choice architecture as something only governments do.
- Ignoring the paternalism objection, which most questions expect.
Revise it first
If any of the above is unfamiliar, work through the notes before practising: Behavioural Economics (Critique of Maximising) revision notes.