Show:
Economics I
Economics II
Economic Systems I
Economic Systems II
Poppin off the Top of the Dome
100
This factor of production is the contribution of human workers to the production process
What is Labor
100
costs that vary (go up or down) when the amount of products that are produced changes.
What is Variable Costs
100
This economic system is when producers are free to produce what they choose to produce with little to no government interference
Market Economies
100
German philosopher who came up with the theory of socialism
What is Karl Marx
100
Who was the one of the first person to “perfect” the Assembly line?
What is Ford
200
This factor of production is when all the structures and equipment involved in the manufacturing process
What is capital
200
the lack of adequate resources to obtain all of one’s wants or needs. The more scarce an item is, the more it costs
What is Scarcity
200
In the free market prices are determined by this
What is Invisible hand
200
Marx wrote this with F. Engels, where they stated that there is an inevitable struggle between the classes, and working class will rise up
What is Communist Manifesto
200
Name the car popularized by Ford from question 1
What is Model T
300
This factor of production is also known as land
What is Natural Resources
300
costs that do not change regardless of how many goods are produced.
What is fixed costs
300
when many buyers and sellers all competing to get what they want to make the most profits.
What is competition
300
a classless society where all means of production would be controlled by the community
What is socialism
300
Name the city where the golf major the Masters takes place in.
What is Augusta, GA
400
these are things people must have to live (food, shelter, clothing)
What is needs
400
system when the product moves down the line and is assembled by a series of laborers, each of whom carries out one specific task.
What is Assembly line
400
means “leave alone” or “hands off
What is Laissez-faire
400
Economic System that features elements of both free-market (capitalist) economies and command economies.
What is Mixed Economies
400
Name at least 4 bands with names based on animal themes
What is May Vary
500
the study of how individuals, firms, and nations can best allocate their limited resources.
What is economics
500
When producers have limited resources some time they use this model to make their choices
What is Decision Making Model
500
Adam Smith's book on free market economics
What is The Wealth of Nations
500
fiscal policy which states if the economy is struggling, the government should increase public spending and decrease taxes.
What is Keynesian Theory
500
WWE wrestler known for his neon face paint and aggressive ring entrance and for being introduced from Parts Unknown
What is the Ultimate Warrior