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Teams
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trap
No points!
Oops!
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rocket
Go to first place!
Okay!
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rocket
Go to first place!
Okay!
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lifesaver
Give 15 points!
Oops!
15
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Define Value in use
value that is directly related to the benefits their owners receive through their use
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heart
Other team wins 25 points!
Oops!
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seesaw
Swap points!
Okay!
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rocket
Go to first place!
Okay!
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thief
Give points!
5
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25
15
×
Define Marginal Utility
the amount of satisfaction that results from one.unit increase of a product
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lifesaver
Give 20 points!
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fairy
Take points!
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25
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fairy
Take points!
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25
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lifesaver
Give 10 points!
Oops!
15
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Term used for an economistÂīs prediction of what will happen to an economy
Economic Forecast
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15
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What does the law of supply say about the relationship between price and quantity supplied?
The law of supply states that there is a positive relationship between price and quantity supplied.
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15
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Public Sector
The part of an economy controlled by national, state and local goverments
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15
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Define Consumer
A person who uses goods.
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15
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Define Laws of Economics
The general principles guiding the production,distribution and consumption of goods.
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15
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What are taxes that goverments apply only to imported goods?
Tariffs
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15
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What does the law of demand say about the relationship between price and quantity demanded?
The law of demand states that there is a negative relationship between price and quantity demanded.
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15
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What term refers to a person that owns a share of some business that produces goods?
Capitalist
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thief
Give points!
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20
25
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rocket
Go to first place!
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fairy
Take points!
5
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20
25
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lifesaver
Give 25 points!
Oops!
15
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Define Demand
The amount of a good that is bought at a certain price under certain conditions.
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15
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"Father of Economics"
Adam Smith
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