In a Nutshell
Let's Study
Its Going to be Huge!
Discoveries
Trading Places
100

Tortoise

100

If 2 to 5 firms control a large % of a market, the market is said to be.....

Concentrated

100

The country that has the largest income per person (as measured by GDP per capita in US dollars)

Luxembourg

100

1492, this guy sailed the ocean blue 

Columbus

100

Taxes on Imported Goods 

Tariffs 

200

Walnut

200

•Street Lighting

•Sewage and Waste Disposal

•Firework Displays/Holiday Decorations

These are examples of.....

Public Goods 

200

Largest building in the world, at 823 meters.

Burj Khalifa

200

In 1985 this ship was 'discovered' by a U.S. Navy expedition led by Robert Ballard 

The Titanic

200

the amount of product you can import into a country at a time  

Quota

300

Sea Urchin

300

When an individual makes the correct decision for him/herself, but those prove to be the wrong decisions for the group

negative externalities

300

The highest mountain at 8848 meters.

Mnt. Everest 

300

James Watson and Francis Crick in 1953

DNA 

300

goods and services purchased from other countries

Imports 

400

Armadillo 

400

personal costs + external costs 

Social Cost 

400

It weighs up to 400,000 pounds (approximately 33 elephants) and reaching up to 98 feet in length

Blue Whale 

400

The Viking who discovered Greenland

Erik the Red

400

Organization forming a coalition of nations that make rules governing international trade

 WTO 

500

Chambered Nautilus

500

The aggregate demand formula 

AD = C + I + G +(X-M)

500

the world's richest person this Friday morning, with an estimated net worth of $186.3 billion—putting him $300 million above Jeff Bezos and 1 billion above Elon Musk 

French fashion tycoon Bernard Arnault, LVMH

500

Whose tomb was discovered in 1922

King Tut

500

The political policy of imposing duties or quotas on imports in order to PROTECT home industries from overseas competition 

Protectionism 

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