Which of the Following Is the First of Our Senses

question 7

Multiple Choice

Which of the following is the first of our senses to develop?

• A)sight
• B)smell
• C)touch
• D)hearing
• E)speech

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Definitions:

Behavioral Economics

A field of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect economic decisions of individuals and institutions.

Limited Knowledge

The state of having restricted information or understanding about a subject or situation, emphasizing incomplete or finite expertise.

Behavioral Economists

Behavioral economists study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions and how those decisions vary from those implied by classical economics.

Endowment Effect

The phenomenon where people ascribe more value to things merely because they own them, often leading to a discrepancy between buying and selling prices.