Ec nM
ie E i
de #10: H nge Game
F ee Ma ke
Pa 1 - Ke Te m - Def e
1. O
C
ef
and Ca i ali m
g.
Tthe loss- of potential gain from other alternatives when one
alternative is chosen.
2. S
the focus on a specific job or task due to the ability of a person
being able to do it more efficiently
3. C
A
the ability of an individual or group to carry out a particular
economic activity more efficiently than another activity.
4. S
Ones personal interest or advantage in an economy
;
-
.
5. F
E
M
6. C
E
A
An economy where the market is controlled by the people ,and not the
government.
,
the government controls the market and what it does. ,
A
,
P
Pa 2 - Check Y
Unde
anding- A
.
7.
?
Businesses are prevented from charging extremely high prices in the free
market system because of supply and demand, basically being that nobody
will purchase the goods if the prices are too high.
8.
?E
.
More competition between producers affects goods and services by causing the quality to
likely be higher and the availability be more consistent
9. M
.
?E
.
Some of the downsides of the government spending money to help failing businesses are
that they won't have money to spend on other important things, people will create
businesses doomed to fail just to get money, and then people won't be very motivated to
make good porducts.
10. I
.
?
Two major drawbacks commonly associated with capitalism are economic inequality and
unfair income distribution which exist because of people taking advantage of the ability to
make deals and profit off of a lot of money.
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Ec nM
ie E i
de #10: H nge Game
F ee Ma ke
i - Read
.
Pa 3- A icle Anal
ef
g e
11. D
and Ca i ali m
e a age be
f
Ada
S
Wea
f Na
a da
e
.
The word benevolence means the quality of being well meaning or kindness.
12. I
.
Two characteristics of capitalism, implied by this passage, are the importance of self-interest
and the class struggle that beggars have to be forced into.
13. B
S
,
?U
.
Businesses are motivated to help people, based on Smith's quote above, when it is
beneficial to the business.
14. I
A
. A
S
?
,
?
I think that Adam Smith did not think that people are inherently wicked. I think this because he
mentions a lot of information about self-interest rather than being unreasonable or evil.
Pa 4- Make C nnec i n - C
ee
ef
g.
15. T
.I
,
,
.
In the movie Ford vs. Ferrari, the two CEOs of the Ford and Ferrari companies are
competing to sell their cars, and the result of the competition was one of them leaning more
into making sports cars (Ferrari) and the other making more everyday cars (Ford).
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