Econ Vocab
Supply and Demand
Taxes
Early Civilizations
Potpourri
100
Something that motives someone to do something.
What is an Incentive.
100
If demand increases and supply stays the same, then there is a ____________ and price ____________.
What is shortage, increases.
100
This type of tax is used to fund schools, roads, and transportation.
What is Property Tax or Sales Tax.
100
This individual united upper and lower Egypt.
Who is King Menes.
100
What foot of Neil Amrstrong's was the first to touch the moon?
What is the left foot
200
The value of something when another option is chosen.
What is Opportunity Cost.
200
If supply increases and demand stays the same, then there is a ____________ and price __________.
What is surplus, decreases.
200
This type of tax is used to fund the salaries of your local senator.
What is Income Tax.
200
What was the cause of the Trojan War according to mythology?
What is The Judgement of Paris.
200
What is the healthiest state?
Where is Hawaii
300
A general decline in the purchasing power of money.
What is Inflation.
300
If demand decreases and supply stays the same, then there is a _________ and price_________.
What is surplus, decreases.
300
How is property tax determined?
What is it is based upon the value of the property.
300
The location where 300 Spartans fought to the death against the entire Persian army.
Where is Thermopylae.
300
What is Scotlands's national animal?
What is a unicorn
400
The production, consumption and transfer of wealth.
What is Economics.
400
If supply decreases and demand stays the same, then there is a ___________ and price _________.
What is shortage, increases.
400
Why is property tax in Alaska so expensive?
What is to pay for goods and services that have to be shipped there.
400
The names of the two brothers who founded the city of Rome according to mythology.
Who are Romulus and Remus.
400
What country were french fries invented?
Where is Belgium
500
Water, Water Bottle, Water Stand, Water Balloon. Identify good, service, need, and want out of these items.
What is water=need, water bottle=good, water stand=service, water balloon=want.
500
Peyton Manning jerseys are being sold extremely fast before the Super Bowl, however the jersey company cannot keep up with demand. Supply for this jersey has decreased and demand for this jersey has increased. Create a supply and demand graph for before and after this jersey craze.
What is see the board.
500
Robin Hood makes 10,000 per month robbing the rich and feeding the poor. Calculate his net annual income after social security, medicare, and federal income tax.
What is his NMI=$84,004.25
500
The name of the secret Spartan police who were described as "blood thirsty adolescent death squads."
Who are the Krypteia.
500
Who was the first president to live in the white house?
Who is President John Adams