Goods & Bads
Can you PP See it?
Over-rated
Private yet Social
BIG 3
100
A good that uses resources to produce it and thus has an opportunity cost
What is an 'economic good'?
100
This PPC shows the concept of
What is Economic Growth/ Increase in productive potential
100
The number of births per 1,000 people in a population. Usually high in undeveloped countries.
What is Birth Rate
100
Second-hand smoke, pollution, and traffic congestion
What are external costs?
100
A measure of living standards that includes, GDP per head, average years of education, and life expectancy
What is HDI? (Human Development Index)
200
A good that the government feels consumers may not fully appreciate the benefits of
What is a merit good?
200
This PPC Shows the concept of
What is Opportunity Cost
200
(The number of people unemployed) / (total labor force)
What is the unemployment rate?
200
Wages, Electricity, Rent, and the Price of a product
What are private costs?
200
The responsiveness of supply to a change in price
What is PES? (Price Elasticity of Supply)
300
a food (such as a bread, cake, or cookie) made from a dough or batter that is baked
What is a baked good?
300
This PPC shows a decrease in the _____________ or ___________ of resources
What are Quantity / Quality
300
A tool of monetary policy that may be lowered in order to increase aggregate demand
What is the interest rate?
300
External Benefits + Private Benefits
What are Social Benefits?
300
A measure of the weighted average of prices of a basket of goods and services
What is CPI? (Consumer Price Index)
400
A good used to produced other goods or services
What is a 'capital good'?
400
This PPC shows the concept of ____________ opportunity cost
What is Costant Opportunity Cost
400
Real GDP is equal to nominal GDP adjusted for ....
What is inflation/ the rate of inflation?
400
Daily Double
Lower long-run average cost resulting from a firm or industry growing in size
400
The proportion of household disposable income that is spent on goods and services
What is APC? (average propensity to consume)
500
A good that is non-rival and non-excludable
What is a public good?
500
Daily Double
An economy is experiencing unemployment. Comment on whether it is producing on or inside its production possibility curve. (show with a diagram)
500
This is defined as output per factor of production over a period of time
What is 'Productivity'?
500
Elon Musk recently made a bid of $44 billion to make the company privately owned
What is Twitter?
500
哈哈哈
What is LOL? (Laugh Out Loud)