1. Welcome to Who Wants to be a Millionaire
50:50 15
$1 Million 14
$500,000
Welcome to Who Wants to be a Millionaire 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

2. Another Presentation © 2000 - All rights Reserved Mark E. Damon

4. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

5. In economics, the BIG PROBLEMO is15
$1 Million 14
$500,000 13
$250,000 12
$125,000
In economics, the BIG PROBLEMO is 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
B: scarcity 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: shortage
B: scarcity
C: efficiency
D: productivity

6. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

7. Scarcity exists because wants and needs are15
$1 Million 14
$500,000 13
Scarcity exists because wants and needs are
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
D: unlimited 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: distributed
B: redistributed
C: limited
D: unlimited

8. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

9. Shortage is __, but scarcity is ___.15
$1 Million 14
$500,000 13
$250,000 12
$125,000
Shortage is __, but scarcity is ___. 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
A: temporary, permanent 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: temporary, permanent
B: individual, national
D: microeconomic, macroeconomic
C: an economic concept, an accounting concept

10. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

11. Every choice has 15 $1 Million 14 $500,000 13 $250,000 12 $125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
D. costs 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
B: profits
A: entrepreneurship
D: costs
C: interest

12. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

13. Scarcity forces 15 $1 Million 14 $500,000 13 $250,000 12 $125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
C. choice 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: productivity
B: entrepreneurship
C: choice
D: capital

14. You’ve Reached the $1,000 Milestone! Congratulations! Congratulations!

15. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

16. 15
$1 Million 14
$500,000
The study of how individuals and nations choose to use scarce resources to produce goods and services to meet their wants and needs. 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
D. economics 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: microeonomics
B: positive economics
C: macroeconomics
D: economics

17. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

18. The cost of a choice measured in dollars and sense is the15
$1 Million 14
$500,000
The cost of a choice measured in dollars and sense is the 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
A. Accounting cost 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: accounting cost
B: true cost
C: opportunity cost
D: efficiency cost

19. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

20. To choose one thing over another is a/an:15
$1 Million 14
$500,000
To choose one thing over another is a/an: 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
B. trade-off 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: opportunity cost
B: trade-off
C: marginal analysis
D: true cost

21. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

22. The factors of production:15
$1 Million 14
$500,000 13
$250,000 12
$125,000
The factors of production: 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
B. land, labor, capital,
entrepreneurship, technology 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: land, labor, productivity, efficiency, technology
B: land, labor, capital, entrepreneurship, technology
C: land, labor, capital, interest, profit
D: land, labor, rent, wages, profit

23. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

24. 15
$1 Million
The ability to start a new business, introduce a new product, or improve a technique (willingness to TAKE A RISK ): 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
C. entrepreneurship 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: technology
B: efficiency
C: entrepreneurship
D: productivity

25. You’ve Reached the $32,000 Milestone! Congratulations!

26. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

27. The value of the next best alternative to any choice :15
$1 Million
The value of the next best alternative to any choice : 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
C. Opportunity cost 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: trade-off
B: profit
C: opportunity cost
D: productivity

28. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

29. The “price-tag” on entrepreneurship is15
$1 Million 14
$500,000 13
$250,000 12
$125,000
The “price-tag” on entrepreneurship is 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
C. profit 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: rent
B: wages & salaries
D: research & development
C: profit

30. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

31. The use of science to develop new products or methods:15
$1 Million
The use of science to develop new products or methods: 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
B. technology
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: productivity
B: technology
C: research & development
D: efficiency

32. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

33. The key to economic growth is15
$1 Million 14
$500,000 13
$250,000 12
$125,000
The key to economic growth is 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
A. productivity 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: productivity
B: entrepreneurship
C: capital
D: technology

34. 15
$1 Million 14
$500,000 13
$250,000 12
$125,000 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000 6
$2,000 5
$1,000 4
$500 3
$300 2
$200 1
$100

35. Economic growth is the key to15
$1 Million 14
$500,000 13
$250,000 12
$125,000
Economic growth is the key to 11
$64,000 10
$32,000 9
$16,000 8
$8,000 7
$4,000
D. Higher standards of living 6
$2,000 5
$1,000 4
$500 3
$300 2
$200
50:50 1
$100
A: greater productivity
B: increased efficiency
C: research & development
D: higher standards of living

36. YOU WIN $1 MILLION DOLLARS!
More importantly, can you get 100 points when I quiz you on this material? If you think not, play again!