What is?
Unit 1
Unit 2
Unit 3
Surprise
100
What is Economics?
What is the science that studies the choices people make.
100
The condition in which are wants and needs are greater than the resources available to satisfy those want is called...
What is Scarcity
100
Draw a supply chart on the board
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100
Perfect Competition is...
What is the ideal model of a market economy
100
Where did the Olympics start?
What is Greece
200
What is Supply?
What is the total amount of a specific good or service that is available to consumers.
200
Everyone has a ______________
What is a choice
200
Draw a demand chart on the board
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200
A market structure in which only a few sellers offer a similar product is called...
What is Oligopoly
200
How many time zones are in the world?
What is 24
300
What is a Pure Monopoly?
What is one firm producing a standardized product
300
What are the four types of resources?
What is Land, Labor, Capital, and Entrepreneurship
300
Ceiling prices lead to...
What is shortage
300
The US Postal Service is an example of
What is a Government monopoly
300
Hoe many bones do shark's have?
What is Zero
400
What is a franchise
What is a contract by which a firm lets a person (or group) use its name and sell its goods in exchange for certain payments being made and certain requirements being met.
400
Great Britain is a example of what type of economy?
What is a Mixed Economy
400
Mortgage payments on a house is an example of...
What is fixed costs
400
One disadvantage of investing in stock?
What is high risk
400
Where was the game checkers invented?
What is Egypt
500
What is a Bull Market?
What is increasing stock prices
500
Who was the "forefather" of capitalist thinking?
Who is Adam Smith
500
A measure of how responsive demand is to a change in price is called...
What is price elasticity of demand
500
What is one advantage to a partnership in types of business firms?
What is... Easier to raise capital, division of skills, taxed only once
500
What is the largest organ in the body?
What is the skin