Mirco vs Macro
Supply & Demand
Geography & Economics
Real World Scenarios
Graphing & Markets
100
What studies individual consumers and businesses?
Microeconomics
100
How much consumers want to buy, is known as?
Demand
100
Why do countries with ocean access usually grow faster?
Easier to trade
100
Ice cream sales increase in summer. What happens to demand?
Increases
100
What is the point called?
Equilibrium
200
What studies entire economies, including GDP and unemployment?
Macroeconomics
200
How much producers want to sell, is known as?
Supply
200
How do mountains affect economies?
They limit transportation, but increase tourism
200
Choosing fast food over a fancy restaurant — what is this called?
Opportunity cost
200
This photo is an example of.....
A shift in the demand curve
300
Is gas prices at one station micro or macro?
Mircoeconomics
300
When supply equals demand, what do we call that?
Equilibrium
300
How do natural resources help economies?
Help countries with trading and provide income
300
McDonald’s stops selling beef. Burger King demand does what?
Increases
300
This graph is an example of....
A Movement along the demand curve
400
Is national unemployment micro or macro?
Marcoeconomics
400
When demand is greater than supply, what occurs?
A shortage
400
How does war affect economies?
Destroys infrastructure and disrupts trade
400
Cookie price rises but quality improves. What happens to demand?
Increases
400
This graph is an example of?
Surplus
500
GDP growth across China is an example of which?
Macroeconomics
500
When supply is greater than demand, what occurs?
A surplus
500
What do stable governments help encourage?
Investment and growth
500
Delhi paid for dead cobras but it lead to people started to breed them to make money. What is this called?
The Cobra Effect
500
This graph is an example of a....?
Shortage