Econ So Far
What is Economics? The correct definition.
Economics is the science how we use scarce resources
“I got that sunshine in my pocket, got that good soul in my…”
What is “feet”?
This social media platform was known for “Top 8 friends.”
What is MySpace?
This sport is known as “America’s pastime.”
What is Baseball?
This is one thing I always bring to class.
What is Coffee?
What are the 4 Factors of Production?
Land, Labor, Physical Capital, Human Capital and Entrepreneurship.
“Cause baby you’re a firework, come on show ‘em what you’re…”
What is “worth”?
This handheld gaming device was super popular before smartphones
What is a Game Boy?
This country won the 2022 FIFA World Cup.
What is Argentina?
What University do I attend?
What is University of Wisconsin-Whitewater
Explain Explicit cost vs Implicit cost.
Explicit costs are the traditional out of pocket costs associated with making a decision.
Implicit costs are the opportunity costs of making a decision
“Say my name, say my name, when no one is around you, say baby I love you if you ain’t…”
What is “running game”?
This Disney Channel show featured a person living a double life.
What is Hannah Montana?
In football, this position typically throws the ball.
What is quarterback?
What are my two kids names?
What is Saylor and Sage?
On a PPC, describe the point on the outside of the curve, inside of the curve and points going along the curve.
Outside of curve = Impossible
Inside of curve = Inefficient / Unemployment
Going along the curve = Efficent
“We were first young when I first first saw you, I close my eyes and the flashback starts, I’m standin’ there…”
What is “on a balcony in summer air”?
A popular high school girl secretly runs a burn book and manipulates everyone around her.
What is Mean Girls?
This Olympic athlete has won the most gold medals in history.
Who is Michael Phelps?
What is my first name?
When reading a demand curve, assume all outside factors, such as income, are held constant. What is this called?
This is called ceteris paribus
“Started from the bottom now we…”
What is “here”?
These small collectible toys from the early 2000s had names like “Sparkle” and “Princess.”
What are Beanie Babies?
This player was nicknamed “The Answer.”
Who is Allen Iverson?
When I am not in school or with my family, what am I doing?
What is Shopping?