Econ
The study of how people seek to satisfy their needs and wants by making choices
Economics
an economy in which production, investment, prices, and incomes are determined centrally by a government.
Command Economy
Which of the following is a defining feature of an oligopoly?
A. Many small firms producing identical goods
B. A single seller dominating the market
C. A few large firms that are interdependent
D. No barriers to entry
C. A few large firms that are interdependent
U.S. Postal Service (first-class mail)
Monopoly
Where will the 2028 Summer Olympics be held?
Los Angeles
Which major city do rappers Ludacris, Gucci Mane, and Andre 3000 represent?
Atlanta
“There’s a snake in my boot!” is famously spoken by Woody, a cowboy doll, in which 1995 animated movie?
Toy Story
the study of how households and firms make decisions and how they interact in markets
microeconomics
an economic system combining private and public enterprise.
Mixed Economy
In a monopoly, what is the primary reason a firm can control the price of its product?
A. There are no barriers to entry for other firms.
B. It produces goods that are identical to competitors'.
C. It is the sole seller of a unique product with no close substitutes.
D. There are many competitors offering the same product.
C. It is the sole seller of a unique product with no close substitutes.
Basic raw materials (iron ore, copper, aluminum in large exchanges)
Perfect Competition
What sport is best known as the ‘king of sports’?
Soccer
Which rapper featured on Katy Perry's hit single 'E.T.' from her album Teenage Dream?
Kanye West
On average, which grows faster: Fingernails or toenails?
Fingernails
the study of the economy as a whole, including topics such as inflation, unemployment, and economic growth
macroeconomics
An economic system based upon the fundamentals of private property, freedom, self-interest, and prices
Market Economy
What type of market structure is most likely to involve collusion among firms?
A. Perfect Competition
B. Monopoly
C. Oligopoly
D. Monopolistic Competition
C. Oligopoly
Airlines: American, Delta, United, Southwest
Oligopoly
Who has won more tennis grand slam titles, Venus Williams or Serena Williams?
Serena Williams.
Which geographical region do rappers Nipsey Hussle, Fashawn, and Snoop Dogg primarily represent in their music?
West coast
Which soft drink once contained cocaine as one of its original ingredients?
Coca-Cola
A situation in which unlimited wants exceed the limited resources available to fulfill those wants
Scarcity
A system in which society, usually in the form of the government, owns and controls the means of production.
Socialism
In which market structure do firms compete by differentiating their products rather than focusing solely on price?
A. Perfect Competition
B. Monopoly
C. Oligopoly
D. Monopolistic Competition
D. Monopolistic Competition
Soft drinks: Coca-Cola, Pepsi, Dr. Pepper
Oligopoly
The classic 1980 movie called Raging Bull is about which real-life boxer?
Jake LaMotta.
Which prominent hip-hop artist refers to Cash Money Records founder Brian Williams as his father figure?
Lil' Wayne
A majority of adults have how many permanent teeth?
32
Cost of the next best alternative use of money, time, or resources when one choice is made rather than another
Opportunity Cost
A theory or system of social organization based on the holding of all property in common, actual ownership being ascribed to the community as a whole or to the state.
Communism
Which market structure is characterized by a large number of firms producing identical products?
A. Monopoly
B. Oligopoly
C. Perfect Competition
D. Monopolistic Competition
C. Perfect Competition
Ice cream: Baskin-Robbins, Dairy Queen, Cold Stone, Ben & Jerry’s
Monopolistic Competition
What are the two national sports of Canada?
Lacrosse in the summer, ice hockey in the winter.
Which R&B/hip-hop artist is credited with popularizing Auto-Tune in modern music during the late 2000s?
T-Pain
What animated Nickelodeon TV show featured Steve, Blue, Mr. Salt, Mrs. Pepper and Mailbox among other characters?
Blue’s Clues