1. Sides Game

2. Economics is the study of

3. The fundamental economic problem is
One word

4. 2 characteristics of scarce resources

5. Value of the forgone alternative

6. Simplified constructs of reality, usually graphs, are called

7. 3 economic questions

8. Analysis at the “one additional unit” level

9. What is this?

10. Point to a productively efficient point.

11. This PPC demonstrates the principle of ______ ______ cost

12. This one shows ______ opportunity cost.

13. Which type is this?

14. Point to a productively efficient point where only ONE good or service is being produced.

15. Name something an economist would count in the “cost” of college that an accountant would not.

16. The BEST producer of a good has the

17. Point to a point of unemployment.

18. The producer with the lowest opportunity cost has the

19. Names the 4 factors of production

20. Good used in the production of other goods are called

21. Oil is an example of which input?

22. North Korea has a nearly pure ___________ economy

23. US falls on this side of the economic systems spectrum

24. Points outside the PPC are

25. Points inside the PPC are

26. Italy’s Opp. Cost for 1 freezer

27. Marginal Utility/Benefit
Increases or decreases

28. Investment in ____ will cause a future rightward shift of the PPC

29. Opp. Cost of B to C A B C

30. In the circular flow model, what do households sell?
4 answers required

31. Currently, do net exports represent an injection or a leakage?

32. Give an example of an injection into the circular flow model.

33. From which point would an single unit increase in dog production have the greatest opportunity.
Cats B A
Dogs