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Thinking Like an Economist
Key Principles
Tools
Systems
The Grammys
100
The branch of economics that uses objective analysis to find out how the world works.
What is "positive economics"?
100
The resources needed to fulfill our desires are scarce.
What is the "tradeoffs" principle?
100
A visual representation of the relationship between two sets of data.
What is a graph?
100
A core philosophy that property should be owned by society as a whole.
What is socialism?
100
The Black Hippy.
Who is Kendrick Lamar?
200
Any factor that motivates a person to do something.
What is an incentive?
200
People choose something when their gains outweigh their drawbacks.
What is the "costs v benefits" principle?
200
A line representing data points displayed.
What is a curve?
200
A higher authority making production decisions.
What is a command economy?
200
The French dudes from Tron.
What is Daft Punk?
300
The system that manages limited resources for the production, distribution, and consumption of goods and services.
What is an economy?
300
The arrangement that brings buyers and sellers together.
What is the "markets coordinate trade" principle?
300
Definitely not history, and not geology either.
What is social science?
300
Where customs dictates production choices.
What is a traditional economy?
300
He literally pulled a heist.
Who is Macklemore?
400
The "father" of neoclassical economics.
Who is Adam Smith?
400
Making decisions about a little more or a little less of something.
What is "thinking at the margins"?
400
Assigning value and comparing items.
What is a cost-benefit analysis?
400
Guided by self-interest.
What is a free market economy?
400
Best Alternative album.
Who is Vampire Weekend?
500
Puzzles or riddles to an economist.
What is an economic enigma?
500
The actions of people sometimes have results that are not foreseen.
What is the law of unintended consequences?
500
Judging whether the economy is producing efficiently.
What is a Production Possibilities Frontier?
500
Theorist who suggested that governments should stabilize economies.
Who is Keynes?
500
I wish she was Drunk in Love with me.
Who is Beyonce?