The Factors of Production Game

Slides:

Advertisements

Similar presentations

Today we will review the Economic concepts we have learned thus far READY????? HERE WE GO……

Advertisements

Topic 1Topic 2Topic 3Topic 4Topic

Business Administration & Management Mr. Bernstein Types of Economic-Political Systems, pp February 23, 2015.

Chapter 3 political and economic analysis Section 3.1

Free Enterprise Markets make the world go ‘ round.

What is Economics.  Main Idea: Scarce resources affect everyone and economists simplify the world to help us understand it.

To economists, everything other than basic survival needs is considered a want. 123.

The Basics of Economics.  Economic systems are the ways by which societies make economic decisions. All systems must answer these questions: ◦ What to.

Political and Economic Analysis. What is an Economy? -- Ch 3 Sec. 1 What is meant by the term economy The factors of production The concept of scarcity.

Hello and welcome to who wants to be a Millionaire! On this game you will be asked 15 questions. It will then come up with 4 possible answers, 1 of which.

Economics is a Way of Thinking Economic Question Factors of Production Economic Market Different Economies.

1-1.  What is economics?  Why are so many resources so scarce?  What are the 5 main types of resources?

What is Economics?.

Economic Systems and Government. Introduction In any type of economic systems, three basic questions must be answered: In any type of economic systems,

Chapter 1. Learning Objective I can define economics and understand what causes the study of economics to exist.

Economics. What is Economics? Economics: the branch of social science that deals with the production and distribution and consumption of goods and services.

World Economic Systems

Midterm Vocabulary Studyguide. Economics Midterm Vocabulary 1) scarcity 2) land 3) capital 4) labor 5) entrepreneurs 6) consumer 7) goods 8) services.

Chapter 2 Economic Systems You mean there is more than one?

Goals: The students will understand: 1. Basic economic language. 2. The three factors of production. 3. Why labor and entrepreneurship are in different.

Welcome to... A Game of X’s and O’s Modified from a game Developed by Presentation © All rights Reserved

SECTION 4.1 WHAT IS AN ECONOMY? Chapter 4: Global Economics.

Circular Flow of Wealth Models. The entrepreneurs The businesses The productsThe people Wealth Left out: the government invest wealth: land, labor or.

{ Economic Systems Notes.  EVERY nation faces scarcity  Therefore they must make economic choices  The 3 Economic Questions  What goods & services.

 All goods and services require stuff to make them. (They don’t make themselves)  Land= natural capital (trees, water, dirt, silver)  Labor= Human capital.

Economics. What is Economics? Economics: the branch of social science that deals with the production and distribution and consumption of goods and services.

QUICK CHECK: Economic Terms _____________________________ is the study of how people or countries manage (choose to use) their limited resources by producing,

Friday, January 8, 2016 Objective: Students will be able to describe how societies answer basic economic questions and the influence of factors of production.

What is Economics?. Who gets the candy bar? In five minutes, your group must come up with as many ways to allocate (distribute) the candy bar within the.

Marketing Principles CHAPTER 3 SECTION 1.  Economy – the organized way a nation provides for the needs and wants of its people  Economic resources –

Circular Flow of Wealth Models

Political and Economic Analysis

Factors of Production -Capital or Capital Goods---the money or tools needed to produce goods/services -Land / Resources– the natural resources needed.

Introduction to Business & Marketing

Types of Economies.

The Fundamentals of Economics

How are resources, goods, and services allocated?

PRODUCTION, DISTRIBUTION, and CONSUMPTION What Is an Economy?

What is economics? Vocabulary

Mr. Mayer AP Macroeconomics The Circular Flow of Economic Activity

آشنائی با شرکتهای دانش بنیان

How are resources, goods, and services allocated?

Intro to Economic Systems

Economic Systems.

Chapter 2 Quiz Review Economics

Module 14 Lesson 1 Mastery Assignment

The resources used to produce goods and services

Unit 1: Basic Economic Concepts

Fundamentals Review.

What is an Economic System?

Unit 1: Basic Economic Concepts

The Circular Flow Model

What is economics? Part one.

4 Types of Economic Systems

ECONOMICS SUPPLY AND DEMAND.

Economic Questions Chapter 2 Section 1.

Chapter Two Game Business Principles

Goods services. goods services Identify the basic questions all economic systems address Objective Identify the basic questions all economic.

Economic Systems: Mixed & Traditional Economies

PRODUCTION, DISTRIBUTION, and CONSUMPTION What Is an Economy?

Mr. Wyka Economics Citrus High School

Do Now for Monday, April 3 If a nation encourages entrepreneurship, then which of the following is likely to occur? A very little change in overall production.

Entrepreneurship Intensive Training

Economic Terms Review.

Introduction to Business & Marketing

Unit 1: Basic Economic Concepts

Economic Systems 1-3.

Practice EOCT Questions

Presentation transcript:

The Factors of Production Game Welcome to... Factor This! The Factors of Production Game Land, Labor, Capital or Entrepreneurship?

Land, Labor, Capital or Entrepreneurship? 1 Pizza Oven Land, Labor, Capital or Entrepreneurship?

Answer Capital

Land, Labor, Capital or Entrepreneurship? 2 dr. dre Land, Labor, Capital or Entrepreneurship?

Answer Entrepreneur

McDonald’s Drive Thru Worker Land, Labor, Capital or Entrepreneurship? 3 McDonald’s Drive Thru Worker Land, Labor, Capital or Entrepreneurship?

Answer Labor

Land, Labor, Capital or Entrepreneurship? 4 Beach Front Property Land, Labor, Capital or Entrepreneurship?

Answer Land

Land, Labor, Capital or Entrepreneurship? 5 Oprah Land, Labor, Capital or Entrepreneurship?

Answer Entrepreneur

Land, Labor, Capital or Entrepreneurship? 6 Oil Land, Labor, Capital or Entrepreneurship?

Answer Land

Land, Labor, Capital or Entrepreneurship? 7 Assembly Line Machine Land, Labor, Capital or Entrepreneurship?

Answer Capital

Land, Labor, Capital or Entrepreneurship? 8 Car Salesman Land, Labor, Capital or Entrepreneurship?

Answer Labor

Land, Labor, Capital or Entrepreneurship? 9 Bill Gates Land, Labor, Capital or Entrepreneurship?

Answer Entrepreneur

Land, Labor, Capital or Entrepreneurship? 10 Male Dancer Land, Labor, Capital or Entrepreneurship?

Answer Labor

Name the three Economic systems we discussed in class? 10 Traditional, Command Market (or mixed). Tie Breaker Name the three Economic systems we discussed in class?

The Factors of Production Game Thanks for playing... Factor This! The Factors of Production Game