Current Events
Supply and Demand
Market Structures
National Debt
Everfi
100
Former First Lady that just passed away
Barbara Bush (wife of Bush senior)
100
What is the equilibrium point?

the point at which quantity demanded and quantity supplied are equal

Where supply and demand cross

100
How many firms are in a perfect competition market?
Lots (hundreds to thousands)
100

any 12 month period used for budgeting purposes

Fiscal year
100

What fees likely be the highest for a checking account?

Overdraft Fees
200
Airline that just a a dramatic landing when an engine exploded in flight, depressurizing the plane and killing a passenger
Southwest Airlines
200
Name one factor the influences Demand

Tastes and preferences

Income

Substitutes 

Compliments


200
Give one example about how the government creates monopolies

Patent

Franchise

License 


200
What is dollar amount of our National Debt, approximately?
$21 Trillion
200
Least Important part of a check
Memo line
300
Leader of this country is currently visiting the US
Emmanuel Macron from France
300
Name one factor that impacts Supply

Costs of production 

Technology 

Taxes 

Quotas


300
What is horizontal integration?

Turning many firms into one business in order to create a giant company with low production costs. 

300

What is GDP Per Capita?

value of GDP divided by population

300

What is the typical relationship between time and interest rate?

Longer time period usually equals higher interest rates

400
Number of kids British royal couple William and Kate now have
3 (George, Charlotte and Baby Boy)
400

When demand decreases (curve shift) what happens to the Quantity Supplied and Price?

QS will decrease (less, or lowered)

Price will decrease (less or lowered)

400
Two characteristics of a monopoly market structure

Only one seller in the market.

The product is unique (no close substitute). 

Barriers to entry - any significant factor that prevents another firm from entering the market.

Complete control over price.


400

an upper limit set on the amount of money that a government may borrow

Debt Ceiling
400

You are opening a savings account that earns compound interest. Which compounding frequency will earn you the MOST money

Compounding Daily
500
In a speech to celebrate Earth Day, President Trump highlighted the US withdrawal from an environmental agreement signed in and named after this city
Paris Agreement
500
When supply increases (curve shift) what happens to the Quantity Demanded and Price?
QD is increased (more)

P is decreased (less)

500
Name one problem that can develop from an oligopoly market structure?

Price wars

Collusion 

Price fixing 

Cartel 

500

 a bill that authorizes a specific amount of spending by the government

appropriations bill
500

If you are planning to carry a large balance on your credit card, what credit card feature should you look for

Low APR (annual percentage rate)
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