Following a highly-publicised local outbreak of a rare flu strain, which the media described as a 'deadly seasonal threat', there is a sharp increase in the number of residents in a city who pay for private health vaccinations after seeing their neighbours queueing for them.
Which one of these combinations of behavioural concepts are the residents most likely to have demonstrated?
Anchoring and framing bias
Availability bias and social norms
Rules of thumb and anchoring
Social norms and rules of thumb
45 exam-style questions on AQA A Level Economics 1.2 Individual economic decision making (A-level only), covering 1.2.1 Consumer behaviour, 1.2.2 Imperfect information, 1.2.3 Aspects of behavioural economic theory, and 1.2.4 Behavioural economics and economic policy. Each one has a worked solution and a mark scheme showing where the marks go.