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Econ Basics
Factors of Production
Scarcity & Choice
Citizenship
US Founding Documents
100
The study of how people seek to satisfy their needs and wants by making choices.
What is Economics
100
Name the 3 factors of production:
What is Land, Labor, and Capital
100
Limited quantities of resources to meet unlimited wants.
What is Scarcity
100
The situation in which a good or service is unavailable.
What is Shortage
100
What is the number 1 song on The Hot 100 List?
What is The Monster by Eminem.
200

Any item needed to fulfill a need or to produce something that fulfills a need

What is resource?

200
What are natural resources that are used to make goods and services? Name 3 examples of this.
What is Land. Answers vary.
200

Air, food and shelter are examples of these

What are needs?

200
This can be temporary or long term?
What is Shortages.
200
What is the number 1 selling movie in the Box Office this last weekend?
What is Frozen
300
The skills and knowledge gained by a worker through education and experience.
What is Human Capital.
300

This term describes work done to complete a production task of any sort

What is Labor.

300

An item that we desire but that is not essential for survival

What is a want?

300
Natural Resources such as gold and diamonds are examples of this.
What is Scarcity.
300
The Vizio BCS National Championship NCAA football game is coming up. Name the 2 teams playing and what day it's on.
What is Florida State and Auburn, on January 6th.
400

Calculation of one choice made as compared to an alternative

What is Opportunity Cost?

400
What is any human-made resource that is used to create other goods and services? Name the 2 types of it.
What is Capital, Physical & Human Capital
400

If an item or resource is difficult to get, it is usually more.....this

What is expensive?

400
What is the core problem of Economics?
What is Scarcity.
400
Going into week 15 there are 3 teams tied for 2nd in the NFL with a record of 10-3.Name 2 of them.
What is New Orleans Saints, Kansas City Chiefs, and New England Patriots
500
What are The three groups of resources that are used to make all goods and services?
What is Factors of Production.
500

An example of this economic question would be knowing what age group to sell a Lego toy set to

What is for whom to produce?

500

The significance of a good or an item based on preference and perceived worth

What is value?

500
Name how # 2 pencils can be both defined as a scarcity product and shortage product.
What is scarcity-the amount of wood available to make them,shortage-sold out at a store.
500
What State recently had an engine failed plane crash killing the Director of State Health department?
What is Hawaii.