Production Possibilities Frontier (PPF)
Circular Flow Model
Econ 101
4 Factors of Production
Pixar Movie Trivia!
200
Any point that lands on the Production Possibilities Curve is known as..
What is "full production"
200
Which two units are constantly flowing in opposite directions in the Circular Flow Model?
What is "Money and Resources"
200
In Economics we classify an alternative choice as a _________.
What are "trade-off"
200
Human effort that produces goods and services
What is "Labor"
200
Who is this racecar?
Who is "Lightning McQueen"
400
What do we classify Point C as?
What is "idle resources"
400
What do Households and Individuals have to offer in the Circular Flow Model?
What is "4 Factors of Production" or "Productive Resources"
400
Giving up the next best alternative when making a choice is called ____________.
What is "opportunity cost"
400
Goods that are used to produce other goods and services are known as ______________.
What are "capital goods"
400
What kind of bugs are the villains in A Bug's Life?
Who are "grasshoppers"
600
What is the opportunity cost of moving from Point A to Point B?
What is "4 goods"
600
Money that businesses and firms earn from selling goods and services is called ____________.
What is "Revenue"
600
The additional satisfaction or usefulness we receive from making a decision is known as __________.
What is "utility"
600
Which factor of production would Minnesota's Iron-Ore range be considered?
What is "Land"
600
Dory and Marlin travel to this famous city in Finding Nemo
Where is "Sydney"
800
What do we classify Point D as?
What is "unattainable"
800
What do businesses and firms have to offer in the Circular Flow Model?
What are "Goods and Services"
800
The fact that we have unlimited wants with limited time and resources is a result of _____________.
What is "scarcity"
800
Which factor of production involves re-imagining our productive resources to create a new or original idea?
What is "Entrepreneurship"
800
What is the name of Carl's dog in the Pixar classic Up?
Who is "Dug"
1000
What causes a PPF to shift like this?
What is "more productive resources, more efficiency, more productivity"
1000
What are the 4 types of income that Households and Individuals can earn from selling their productive resources?
What is "Rent (Land), Wages (Labor), Interest (Capital) and Profit (Entrepreneurship)
1000
Name the 3 questions that all economies must answer..
What is "What to produce? How to produce? For whom to produce?"
1000
Goods that are intended for "final use" are considered _________________.
What are "consumer goods"
1000
This was the first Pixar film to be made, released in 1995
What is the "Toy Story"