A video game has just been released on Friday and is already sold out. What has happened to the supply and demand of the product?
What is the demand has gone up and the supply has gone down.
100
A measure of personal and collective well being.
What is quality of life?
100
Market Street is an example of a ____________ owned company whereas Canada Post is _____________________ owned.
What is privately then publicly.
100
This type of economy has CROWN CORPORATIONS.
What is a market economy?
100
One reason why the government would become involved in a mixed economy.
What is promote culture, protect consumers, etc.
200
The two principles of a MARKET economy.
What is supply/demand and competition.
200
2 of the 5 factors that effect consumerism.
What is SHE JIM
200
The basic questions surrounding scarcity in the economy are:
What is needed or wanted?
How will it be produced?
Who will get it?
200
The best way to achieve the public good is to let everyone fend for themselves. This statement would come from a __________ economist.
What is market?
200
One marketing technique used by advertisers to encourage you to buy their products
What is bandwagon, generalities, testimonial etc.
300
When you go to the grocery store there are 25 different types of cereal to choose from. This is called ___________________ between producers.
What is competition?
300
A student buys the t shirt they are wearing because they saw Sheldon wearing it on Big Bang Theory. Which factor has effected their purchase?
What is marketing?
300
The three factors of production are ?
What are land, labor and capital?
300
This type of economy has MORE government involvement.
What is mixed
300
What is one impact of labour unions in mixed and market economies?
Changes due to government legislation to protect workers, demand higher pay for workers, outsourcing jobs to other countries, unions can strike, etc.
400
One reason why the demand of a product might go up.
Just released, new edition, advertisments etc.
400
The total price tag on a countries economy.
What is GDP? Gross domestic product.
400
Some resources are publicly owned and some are privately owned. Individuals and the government make decisions about what to produce.
What is a mixed economy?
400
The opposite of having any competition in society.
What is monopoly?
400
One crown corporation in Canada.
What is CBC, Canada Post, Via Rai, etc.
500
When producers have supplied as much of a product as consumers will buy, at a price that allows producers to make the most profit possible making supply, demand and pric stable over time.
What is Equilibrium?
500
Animal rights groups refuse to buy certain cosmetics because the companies used animals to test their products. This is an example of a __________________.
What is boycott?
500
The United States Economy is on the RIGHT or LEFT side of the economic continuum?
What is RIGHT?
500
A person who believes in reduced government spending and reduced regulation of companies is probably a ____________________ economist.
What is market
500
Healthcare, education, pensions for seniors, affordable housing are all examples of this.