Team 1
0
Team 2
0
Teams
Name
Score
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thief
Give points!
5
10
15
20
25
×
fairy
Take points!
5
10
15
20
25
×
fairy
Take points!
5
10
15
20
25
×
thief
Give points!
5
10
15
20
25
15
×
A merger of unrelated companies
Conglomerate
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Okay!
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15
×
The term for cuts in government expenditure and/ or rises in taxation designed to reduce aggregate demand.
Contractionary fiscal Policy
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15
×
Reduction in the value of an capital due to wear and tear or being obsolete
Depreciation
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15
×
the price of one currency in terms of another currency or currencies.
Foreign Exchange rate
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5
×
The payment received by capital
Interest
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15
×
if demand for X increases when the price of Y increases, then X and Y are
Substitutes
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baam
Lose 25 points!
Oops!
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fairy
Take points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
×
banana
Go to last place!
Oops!
15
×
It occurs when people can benefit from a good/service without paying anything towards it
Free Rider problem
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15
×
When supply is in excess compared to demand
Surplus
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banana
Go to last place!
Oops!
×
rocket
Go to first place!
Okay!
×
gift
Win 15 points!
Okay!
×
baam
Lose 15 points!
Oops!
15
×
This tax imposes the same tax percentage on individuals regardless of income and is seen as being regressive.
Flat or Proportional tax
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5
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The payment received by Land
Rent
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15
×
Demand for a product is very responsive to price changes
Elastic Demand
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15
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Price cannot be over the maximum
Price ceiling
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15
×
An economic model that illustrates opportunity costs
PPF production possibility frontier
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