3. $100 $400 $300 $200 $400 $200 $100$100 $400 $200$200 $500$500 $300 $200 $500 $100 $300 $100 $300 $500 $300 $400$400 $500

4. Economic Systems

5. Production Possibilities Frontier

6. Social and Economic Goals

7. Free Enterprise Capitalism

8. Vovabulary

9. EconomicSystems Production Possibilities Frontier Social and Economic Goals Free Enterprise Capitalism Vocabulary $100 $300 $200 $400 $500 $

10. C 1 - $100 Which group of people ultimately determines the products a free enterprise economy produces

11. C 1 - $200 The government makes all major economic decisions in this type of economic system

12. C 1 - $300 Which economic system can change direction quickly and drastically

13. C 1 - $400 Which economic system does not provide for everyone’s basic needs

14. C 1 - $500 Which economic system discourages new ideas and new ways of doing things

15. C 2 - $100 This is a popular model used to illustrate the concept of opportunity cost

16. C 2 - $200 What two products does Alpha’s economy produce in the production possibilities frontier

17. C 2 - $300 An economy producing on its production possibilities frontier is said to be operating at what level

18. C 2 - $400 How are points inside the production possibilities frontier described

19. C 2 - $500 What does this represent

20. C 3 - $100 The Social Security System of disability and retirement benefits is an example of which social and economic goal

21. C 3 - $200 The minimum wage is an example of a Federal law that supports which s/e goal

22. C 3 - $300 Because population is likely to increase this s/e goal strives to produce more goods and services

23. C 3 - $400 Attempting to prevent inflation is an example of trying to accomplish this s/e goal

24. C 3 - $500 Dealing with scarcity and wise use of the productive resources is an example of trying to accomplish this s/e goal

25. C 4 - $100 This refers to people being free to choose their occupation, employer and job location.

26. C 4 - $200 Incentive for people and firms to improve their financial well-being

27. C 4 - $300 Buyers and sellers may engage freely and willingly in market transactions

28. C 4 - $400 The struggle among sellers to attract customers

29. C 4 - $500 Allowing people to own and control their own possessions as they wish

30. C 5 - $100 The process of using up goods and services to satisfy wants and needs

31. C 5 - $200 Situation when some necessities have little value while non- necessities have a much higher value

32. C 5 - $300 The dollar value of all final goods, services, and structures produced within a country’s boarders in a single year

33. C 5 - $400 Mutual dependency of one person’s, firm’s or region’s economic activities on another’s

34. C 5 - $500 Quality of life based on the ownership of the necessities and luxuries that make life easier

35. C 1 A - $100 consumers $

36. C 1 A - $200 CommandEconomy $

37. C 1 A - $300 CommandEconomy $

38. C 1 A - $400 Market Economy $

39. C 1 A - $500 $TraditionalEconomy

40. C 2 A - $100 The Production Possibilities Frontier $

41. C 2 A - $200 Cars and Clothing $

42. C 2 A - $300 At Full Potential $

43. C 2 A - $400 Factories are available but idle $

44. C 2 A - $500 Economic Growth $

45. C 3 A - $100 EconomicSecurity $

46. C 3 A - $200 EconomicEquity $

47. C 3 A - $300 EconomicGrowth $

48. C 3 A - $400 Price Stability $

49. C 3 A - $500 EconomicEfficiency $

50. C 4 A - $100 EconomicFreedom $

51. C 4 A - $200 Profit Motive $

52. C 4 A - $300 Voluntary Exchange $

53. C 4 A - $400 Competition $

54. C 4 A - $500 $ Private Property Rights

55. C 5 A - $100 Consumption $

56. C 5 A - $200 $ Paradox of value

57. C 5 A - $300 Gross Domestic Product (GDP) $

58. C 5 A - $400 $EconomicInterdependence

59. C 5 A - $500 $ Standard of Living

61. Role of Government $ FJ Topic

62. FJ Question $ What are the four roles that the Government plays in the U.S. Economy

63. FJ Ans $ProtectorProviderRegulatorConsumer

64. END OF GAME