Basic Economics
What is the term for unlimited wants but limited resources?
What is the U.S. central bank called?
What is the Federal Reserve?
In 2008, this sector’s collapse triggered a global financial crisis.
What is the housing/mortgage market?
In Monopoly, which property is the most expensive one on the board?
What is Boardwalk?
What currency is used in Japan?
What is the yen?
What is the study of how individuals and businesses make decisions with limited resources?
What is microeconomics?
What does GDP stand for?
What is Gross Domestic Product?
In 2020, a global economic crisis happened because of what worldwide event?
What is the COVID-19 pandemic?
In the show Shark Tank, entrepreneurs pitch their businesses to investors. What are these investors usually asking for in return?
What is equity / ownership in the company?
Which country is the world’s second-largest economy after the U.S.?
What is China?
What is the term for the cost of the next best alternative that you give up when making a decision?
What is opportunity cost?
Inflation means the general ______ of prices over time.
What is increase?
The “dot-com bubble” happened when too many people invested in what type of companies?
What are internet / tech companies?
In the movie The Wolf of Wall Street, Leonardo DiCaprio plays a man who works in what industry?
What is stock trading / finance?
What international organization monitors global trade rules between countries?
What is the WTO / World Trade Organization?
Which economic system is based on supply and demand with little government intervention?
What is free market economy or free market capitalism
What is the term for a sustained drop in the general price level?
What is deflation?
In the 2010s, Greece was at the center of a European financial crisis because it owed too much of what?
What is debt?
In The Big Short, a group of investors made money by betting against what market before the 2008 crash?
What is the housing market / mortgage market?
Which country faced hyperinflation in the 2000s where prices doubled almost daily?
What is Zimbabwe?
Who is considered the "father of modern economics" and wrote The Wealth of Nations?
Who is Adam Smith?
In the U.S., what year was the Great Depression triggered by the stock market crash?
What is 1929?
In the 1970s, gas became very expensive in the U.S. because of an oil shortage caused by which group?
What is OPEC?
In Pokémon, players trade cards of different rarities. This reflects the economic principle that value depends on what?
What is supply and demand / scarcity?
Which European financial crisis in the 2010s centered around debt and bailouts?
What is the Eurozone / Greek debt crisis?