ECONOMICS
Fiscal/Monetary
Policy
Easy ?s
Supply/Demand
Terms 1
100
100
100
100
100
100
200
200
200
200
200
200
300
300
300
300
300
300
400
400
400
400
400
400
500
500
500
500
500
500
600
600
600
600
600
600
Mixed Bag
Terms 2
Supply/Demand
- 100
An increase in Demand would move the demand curve to the
____________ & the price would ______________.
Price
Quantity
Answer
Supply/Demand
- 200
If scientists discover that swiss cheese leads to
clogged arteries, would supply or demand change
first?
Answer
Supply/Demand
- 300
A new technique in growing corn has
resulted in a 11% larger harvest than
any other year of corn production.
Would supply or demand be impacted
first and which way would the
appropriate curve move?
Answer
Supply/Demand
- 400
True or False
If supply decreases, the price goes
down.
Answer
Supply/Demand
- 500
What scenarios in the supply and
demand scheme would bring
higher prices?
Answer
Supply/Demand
- 600
At which point will the producer of the
product have a surplus?
A
Price
B
C
Quantity
Answer
Supply/Demand
- 100 Answer
Demand curve - to the right
The price would increase.
Supply/Demand
- 200 Answer
demand
Supply/Demand
- 300 Answer
Supply and it would move the
right
Supply/Demand
- 400 Answer
False
Supply/Demand
- 500 Answer
1. Increase in Demand
2. Decrease in Supply
Supply/Demand
- 600 Answer
A
Terms 1
- 100
_________ occurs whenever
we do not have enough
resources to produce all the
things we would like to have.
Answer
Terms 1
- 200
_________ _________ are used to try
and explain what did or might
happen to our economy.
Answer
Terms 1
- 300
______________ _____ is the cost
of the next best use of your time
or money when you choose to do
one thing rather than another.
Answer
Terms 1
- 400
____________ _____ is the cost of
producing one more additional
unit of output.
Answer
Terms 1
- 500
____________ is a system where
private citizens own most if not
all of the means of production.
Answer
Terms 1
- 600
What are the 4 factors of
production?
Answer
Terms 1
- 100 Answer
scarcity
Terms 1
- 200 Answer
Economic
model
Terms 1
- 300 Answer
Opportunity cost
Terms 1
- 400 Answer
Marginal cost
Terms 1
- 500 Answer
capitalism
Terms 1
- 600 Answer
1.Raw materials
2.Labor
3.Entrepreneur
4.Capital
Terms
- 100
In a ____ system, private citizens
own some of the means of
production, while the government
owns most of the big industries
a. market c. federalized
b. capitalist
d. socialist
Answer
Terms
- 200
________ is when people or
groups concentrate on producing
goods or services that they can
produce better than anyone else.
Answer
Terms
- 300
Heating expenses are usually
fixed.
Answer
Terms
- 400
What is the payment people receive when
they lend money or allow someone else to
use their money?
a. warranty c. interest
b. income d. savings
Answer
Terms
- 500
Fixed Costs + _____ ____ =
Total Cost
Answer
Terms
- 600
Economics is sometimes called the
science of _______ ________.
Answer
Terms
- 100 Answer
D. Socialist
Terms
- 200 Answer
SPECIALIZATION
Terms
- 300 Answer
FALSE
Terms
- 400 Answer
C. interest
Terms
- 500 Answer
Variable Costs
Terms
- 600 Answer
Decision Making
Easy ?s - 100
Labor is sold in a _______
market.
(factor market or product
market)
Answer
Easy ?s - 200
True or False
According to the Walmart video,
over 50% of all Walmart
suppliers produce products in
China.
Answer
Easy ?s - 300
Profit motive is a positive aspect to a
capitalist system.
Answer
Easy ?s - 400
Identify which items below are (more
often than not) capital goods or
consumer goods.
___ CD holographic Disk packaging unit
___ King sized Almond Snickers Bar
___ bicycle
Answer
Easy ?s - 500
True or False
Putting money in a savings
account hurts the economy.
Answer
Easy ?s - 600
Label the supply & demand curve
Price
Quantity
Answer
Easy ?s - 100 Answer
FACTOR
Easy ?s - 200 Answer
TRUE
Easy ?s - 300 Answer
TRUE
Easy ?s - 400 Answer
Cap
CD holographic Disk packaging unit
Con
King sized Almond Snickers Bar
Con
bicycle
Easy ?s - 500 Answer
False
Easy ?s - 600 Answer
Demand
Supply
Mixed Bag - 100
Which of the 4 questions below is NOT a
question that needs to be answered by
an economic system?
A. When?
C. How?
B. What?
D. For Whom?
Answer
Mixed Bag - 200
Pick a number 1-5
Answer
Mixed Bag - 300
True or False
There are times when families will
choose to lower their standard of
living.
Answer
Mixed Bag - 400
Discouraging the consumption of goods by
imposing a high sales tax on them is an example
of what role of government in our economy?
a.
making markets competitive
b. Establishing prices
c.
rewarding or punishing actions
d. providing services not provided by the
private sector
Answer
Mixed Bag - 500
Reduce this fraction to the simplest
form:
15
102
Answer
Mixed Bag - 600
________ income is the amount of
money left over after taxes have
been taken out and all necessities
paid for.
Answer
Mixed Bag - 100 Answer
A. When?
Mixed Bag - 200 Answer
4
Mixed Bag - 300 Answer
TRUE
Mixed Bag - 400 Answer
C
Mixed Bag - 500 Answer
15
5
----- = ----102
34
Mixed Bag - 600 Answer
Discretionary Income
Terms 2
- 100
What does GDP stand for?
Answer
Terms 2
- 200
_________ _________ are
where producers offer goods
and services for sale.
Answer
Terms 2
- 300
When one thing is exchanged for the
use of another, it is called a
A. trade-off.
B. free exchange
C. opportunity cost. D. marginal cost.
Answer
Terms 2
- 400
______________ _____________
is a term used to represent the
importance of the consumer as the
king or ruler of the market.
Answer
Terms 2
- 500
________ is the amount of money
left over after all the costs of
production have been paid.
Answer
Terms 2
- 600
Pick a color (Purple, Gold, Navy)
Answer
Terms 2
- 100 Answer
Gross
Domestic
Product
Terms 2
- 200 Answer
Product Markets
Terms 2
- 300 Answer
Trade off
Terms 2 - 400 Answer
Consumer sovereignty
Terms 2
- 500 Answer
profit
Terms 2
- 600 Answer
Navy