Section 1
Section 2
Section 3
Quick Quizzes
Bonus
100
The fundamental economic problem of meeting people's virtually unlimited wants with scarce resources.
Scarcity
100
Tangible economic product that is useful, relatively scarce, and transferable to others.
Goods
100
_____ also has an opportunity cost but you cannot put a monetary value on it.
Time
100
Which of the following is a capital good? A Tv for sale in an appliance store, a computer that is used for recreation, a car that is driven by a family, or a computer in a school that is used for education.
computer in a school that is used for education.
100
What site did we use to make this game?
JeopardyLabs.com
200
What are the four Scope of Economics?
Description, Analysis, Explanation, and Prediction
200
Haircuts, home repairs, and forms of entertainment such as concerts.
What do services include?
200
Alternative that is available whenever a choice is to be made.
Trade-Offs
200
For something to have value, it must.. ?
Utility, Scarcity
200
What is Mrs. Lubin's first name?
Brooke
300
What does TINSTAAFL mean?
There Is No Such Thing As A Free Lunch :)
300
Explain The Paradox Value.
apparent contradiction between the high monetary value of a nonessential item and the low value of an essential item.
300
Economist use a strategy called _____ to evaluate choices.
Cost-benefit analysis
300
The study of economics helps people to..?
Become better citizens
300
How many children does she have?
Two
400
What is the difference between a need and a want.
Need- basic requirement for survival, including food, clothing, and shelter. Want- something we would like to have but is not necessary for survival.
400
good that last three years or more when used on a regular basics?
Durable Good
400
Economic choices involve _________ and the carful evaluation of _________.
Trade-Offs and Opportunity
400
Mutual dependency of ones person's, firms, or regions economic activity on another's is?
Economic Interdependence
400
How many questions are on your chapter test?
50
500
Why is economics considered to be a social science?
It deals with the behavior of people as they deal with this basic issue.
500
______ are the people who use goods and services to satisfy, their wants and needs.
Consumers
500
Why are Decision-Making Grids so helpful?
Lists alternatives and criteria to help evaluate choices.
500
What are the four factors of production? Also what are the three basic economic question.
Land,Capital, Labor, and Entrepreneurs WHAT to produce, HOW to produce, and For WHOM to produce
500
How many points is this project worth?
50 point test grade
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