2. The Factors
Of Production

3. Econ
Basics

4. Economic
Systems

5. American
Economy

6. Potpourri

7. Things we haven't
yet learned in
Economics

8. The Factors
Of Production
Econ
Basics
Economic
Systems
American
Economy
Potpourri
Things we haven't
yet learned in
Economics
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9. considered this factor
A UPS Truck would be
considered this factor
of production

10. What is a
Capital Good

11. considered this factor
An apple tree would be
considered this factor
of production

12. What is
Land

13. An artist drawing a
mural on a building

14. What is
Labor

15. A paintbrush used
by an artist

16. What is
capital

17. considered this factor
Bill Gates or
Donald Trump
would be
considered this factor
of production

18. What is
Entrepreneurship

19. businesses, and society to fulfill their unlimited
The study of how
individuals, families,
businesses, and society
use limited resources
to fulfill their unlimited
wants

20. What is
Economics

21. Basic economic
problem that results
from a combination
of limited resources
and unlimited wants

22. What is
Scarcity

23. The two
different branches
of economics

24. What are
Microeconomics
and Macroeconomics

25. best alternative given
Value of the next
best alternative given
up for the alternative
that was chosen

26. What is
Opportunity
Cost

27. Graph showing the
maximum combinations
of goods and services
that can be produced
from a fixed amount
of resources

28. What is a
Production
Possibilities
Curve

29. These are the 3
basic questions
every economy
must answer

30. What is
What to Produce
How to Produce it
and For Whom

31. the factors of production and makes all decisions
System in which the
government controls
the factors of production
and makes all decisions
about their use

32. What is a
Command Economy
(Socialism)

33. System in which individuals
own the factors of
production and make
decisions on their use

34. What is a
Market Economy
(Capitalism)

35. which economic decisions
Economic system in
which economic decisions
are based on customs
and beliefs

36. What is a
Traditional Economy

37. Economic model that
pictures income and
resources as
flowing continuously
between businesses
and consumers

38. What is the Circular
Flow of Income and
Output

39. sellers decide what should
In the United States
Economy, buyers, not
sellers decide what should
be produced. This is
called freedom of...

40. What is
Choice

41. Rivalry among
producers or sellers
of similar goods -
it is essential to our
economic system

42. What is
Competition

43. Amount earned after
a business subtracts
its costs from its
revenues

44. What is
Profit

45. Enterprise, and Assembly... that is a characteristic
Of Freedom of Press,
Religion, Speech,
Enterprise, and Assembly...
This is the one
that is a characteristic
of the US Economic
System

46. What is Freedom
of Enterprise

47. Laissez-Faire describes
this concept of the
American System

48. What is the
Limited Role of
Government

49. Wrote the
Communist Manifesto

50. Who is
Karl Marx

51. Idealized society
in which no government
is necessary

52. What is
Communism

53. the Communist Manifesto
Term used for the
working class in
the Communist Manifesto

54. What is the
Proletariat

55. Statistics that point to
what will happen in the
economy

56. What is the
Circular Flow
of Income and
Output

57. He wrote the
"Wealth of Nations"
and is considered
the father of modern
economics

58. Who is
Adam Smith

59. The amount of a
good or service that
consumers are willing
and able to buy at
various prices

60. What is
Demand

61. This is the result
of when the average
price of goods
increases

62. What is
Inflation

63. Association of workers
organized to improve
wages and working
conditions for its
members

64. What is a
Labor Union

65. A complete restriction
on the import or
export of a particular
good or goods going
to or from a specific
country

66. What is an
Embargo

67. trade barriers between
Trade agreement
designed to
gradually reduce
trade barriers between
Mexico, Canada,
and the U.S.

68. What is NAFTA
(North American
Free Trade Agreement)

69. Final
Jeopardy
DECIDE YOUR WAGER