Supply and Demand | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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15

What is an inelastic good?

Demand is not price sensitive, a need.

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15

Complementary goods are:

Goods that are purchased together

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heart

Other team wins 10 points!

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fairy

Take points!

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25

rocket

Go to first place!

Okay!

banana

Go to last place!

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15

A table describing the prices and quantities supplied of a given produce.

Supply Schedule

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10

Give an example of an inferior good.

Any off brand

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25

Give an example of an exception to supply.

Anything that has been discontinued or can not be produced

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10

The concept that as price goes up, demand goes down...and vice versa

Law of Demand

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thief

Give points!

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rocket

Go to first place!

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shark

Other team loses 25 points!

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thief

Give points!

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15

Costs of production that do not change.

Fixed Costs

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5

The supply curve goes... (up or down)

up

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25

Name three of the six determinates of demand

income, number of buyers, preference, complements, substitutes, future price.

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15

Give an example of a normal good.

Any name brand

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baam

Lose 20 points!

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rocket

Go to first place!

Okay!

fairy

Take points!

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25

banana

Go to last place!

Oops!

5

The demand curve goes... (up or down)

down

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20

What does ceteris paribus mean?

all other things held constant.

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10

Draw a decrease in the demand curve.

shifts left

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