Terms/People
Movie Analysis
Micro Random
Macro Random
Graphs/Tables
100
He was the founding father of Capitalism:
Who is Adam Smith
100
Name at least two examples of economic principles from “A Bug’s Life”
Industrial Revolution, Supply & Demand, Resource Scarcity, Specialization of Labor, etc...
100
What is the study of how individual households and firms make decisions, interact with one another in markets
What is Microeconomics
100
What is the study of an economy as a whole (on a larger scale)?
What is Macroeconomics
100
If consumers buy more or less supplies at the same price, what does this lead to for the demand curve?
What is a shift in the demand curve
200
According to Adam Smith, this is perhaps the most important economic incentive that drives people and makes the economy work:
What is Self Interest/Invisible Hand
200
In Monstropolis, what is the major crisis parallel to real life?
What is a shortage (energy crisis)
200
What is supply and Demand?
Supply is the quantity of the product or resource. Demand is the need for a product or resource.
200
The cost which business owners incur no matter how much they produce
What is marginal cost
200
Give 2 examples of Big aggregate demand shifts in U.S. history
What is Great Depression, WW2, etc.
300
What is the term used when setting the level of gov’t spending and taxation done by policymakers
what is the Fiscal Policy
300
Who was an entrepreneur in “A Bug’s Life?”
Who is Flick
300
What is the term used when there is not enough of something to satisfy how much everyone wants of it?
What is scarcity
300
Why does the marginal cost curve slope upwards?
What is the law of diminishing returns
300
This diagram shows all the combinations of two goods than an economy is capable of producing provided that it is using their resources efficiently:
What is PPF (Production Possibilities Curve/Frontier)
400
What is a worker in a factory?
What is human resource
400
Because there is an energy shortage, Monsters Incorporated, being the only energy supplier, has the ability to create what?
What is a monopoly
400
A bulldozer is an example of what
What is capital
400
This is the cost or benefits that affect a party who did not choose to incur these outcomes
What is Externalities
400
What shows the short-run trade off between inflation and unemployment?
What is the Phillips Curve
500
Who was the chairman of the FOMC up to 2006?
Who is Alan Greenspan
500
As seen in the movie Too Big To Fail, this man was the chairman of the Federal Reserve during the Stock Market Crash of 2008:
Who is Ben Bernanke
500
The value of services exchanged through what each year is measured as national income.
What is resource market
500
What are changes in fiscal policy that stimulate agg. Demand when economy goes into recession?
What are Automatic Stabilizers
500
Why is the production possibility frontier concave?
What is the law of increasing costs
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