Adam Who?
Vocab
Seven Principles
Graphs
Miscellaneous
100
This Adam took a bite of the forbidden fruit from ______ (his wife)
EVE
100
The study of how people choose to use their limited resources to satisfy their unlimited wants:
ECONOMICS
100
Limited resources force people to make choices and face tradeoffs when they choose:
Scarcity forces tradeoffs
100
Disease Severity is on which axis?
Y axis
100
What is this man's current government job?
Speaker of the House
200
This Adam sings about "Goody Two Shoes" -- Don't drink, don't smoke ... what do ya do?
ADAM ANT
200
The exchange of one benefit or advantage for another that is thought to be better:
Tradeoff
200
*********DOUBLE JEOPARDY*************
Decisions made today have future (and often unintended) consequences:
Future Consequences Count
200
The life expectancy of males in 1970?
67.1 years
200
Who is this man?
Jim Jordan (your current House of Rep member)
300
This Adam wrote "The Wealth of Nations" and is considered the Father of Modern Economics:
ADAM SMITH
300
Any factor that encourages or motivates a person to do something.
Incentive
300
People choose something when the benefits of doing so are greater than the costs:
Cost vs Benefits
300
What is the "good" being graphed here?
Soap
300
Why is buying “real” Christmas trees (rather than artificial trees) better for the preservation of trees and forests?
This question is an example of:
Economic Enigma
400
This Adams signed the Declaration of Independence, became our 2nd President and defended the British soldiers that killed 5 patriots at the Boston Massacre:
JOHN ADAMS
400
What you gain by adding one more unit:
Marginal Benefit
400
By focusing on what we do well and then trading with others, we will end up with more and better choices than by trying to do everything ourselves:
Trade-makes-people-better-off
400
What year did the unemployment rate drop to 4%?
2000
400
What kind of an incentive is this?
Negative
500
******DOUBLE JEOPARDY***********
This Adams signed the Declaration of Independence, was known as a fervent patriot during the revolution, and his image can now be seen in your grocery store any day of the week! (on beer!)
SAMUEL ADAMS
500
************DOUBLE JEOPARDY****************
NAME TWO OF THE THREE TOOLS ECONOMISTS USE
SCIENTIFIC METHOD
GRAPHS
ECONOMIC MODELS
500
Markets usually do better than anyone or anything else at coordinating exchanges between buyers and sellers:
Markets Coordinate Trade
500
What two days are 5 boxes of donuts sold?
MONDAY & THURSDAY
500
Who is this with Joe Biden?
Easter Bunny