Supply and Demand
What factors influence supply and demand?
Price and quantity
What are you?
A consumer
What system is known as the "free market"?
Capitalism
Who is seen as the father of communism?
Karl Marx
Where am I from?
Canada
What would likely happen if the quantity became smaller?
Price/demand goes up
What are your parents?
Producers AND consumers
What is a system where the government controls the economy?
Communism/Planned Economy
What is it called when people trade small shares in a company?
Stocks/Stock market
How old am I?
45
What would likely happen if the price went up?
Demand would go down
What do we call our system of production?
Capitalism
What is do we call a system where there is a combination of government control and capitalism?
Mixed economy/socialism
What is the name of Korea's stock market?
KOSPI
What's my favorite food?
Spicy chicken
What is the answer to every question in economics?
Supply and demand
Name a place where production occurs?
Factory/Farm/Company
What do we call economies that existed before money was invented?
Traditional economies
Who is seen as the father of Capitalism?
Adam Smith
Who is the GOAT?
Maradona
What would you expect prices to go down?
When quantity rises or demand lessens
What do we call the place (hint) where producers and consumers meet?
The marketplace
What event created the first communist state?
The Russian Revolution
What event is seen as the greatest failure of capitalism?
The Great Depression
What is my most irrational fear?
Clowns