Team 1
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Team 2
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Teams
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Score
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banana
Go to last place!
Oops!
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shark
Other team loses 20 points!
Okay!
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rocket
Go to first place!
Okay!
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banana
Go to last place!
Oops!
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banana
Go to last place!
Oops!
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seesaw
Swap points!
Okay!
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gift
Win 10 points!
Okay!
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thief
Give points!
5
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25
15
×
What is demand?
the quantity of products that consumers are willing and able to buy at different prices.
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15
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True or false - Is privatization when governments take over a private sector business and transfer it to the public sector?
False
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15
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Free trade is
international trade not restricted by tariffs and other protectionist measures.
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15
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I buy one bottle of the limited edition perfume of a luxury brand. Is this an example of rivalry?
Yes.
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banana
Go to last place!
Oops!
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fairy
Take points!
5
10
15
20
25
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gift
Win 15 points!
Okay!
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banana
Go to last place!
Oops!
15
×
Money is only considered "money" if its bills, bank transactions, or cards?
No, money is anything that is generally acceptable as a means of payment.
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15
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When demand and supply are not equal...
Disequilibrium
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15
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Define inflation.
Inflation is a sustained increase in an economy's price level.
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15
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What is supply?
refers to the quantities of a product that suppliers are willing and able to sell at various prices per period of time, other things being equal.
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15
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True or False - Perfectly Inelastic: Everything that is produced is sold at a given price.
False.
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15
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What is the difference between a want and a need?
Wants are needs that are not always realized. A need is anything a human being needs for their survival.
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15
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What is the distinction between "money or nominal values" and "real values"?
Money values: values at the prices operating at the time. / Real values: values adjusted for inflation.
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boom
Lose 50 points!
Oops!
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magnet
Take 15 points!
Okay!
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fairy
Take points!
5
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25
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lifesaver
Give 25 points!
Oops!
15
×
True or False - Minimum price refers to a price that is fixed, the market price must not go below the price.
True
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