Economics Review | Baamboozle - Baamboozle | The Most Fun Classroom Games!

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15

Define division of labor

the separation of work into individualized tasks

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15

Define Laws of Economics

The general principles guiding the production,distribution and consumption of goods.

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Demand Schedule or Supplt Schedule

a list of numbers that compares price with quantity

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15

Public Sector

The part of an economy controlled by national, state and local goverments

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15

Define Producer

A person who works to provide goods.

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Define Want

The human desire to have and use a certain good.

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Define Value

The worth that consumers attach to a good.

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baam

Lose 25 points!

Oops!

magnet

Take 20 points!

Okay!

shark

Other team loses 10 points!

Okay!

thief

Give points!

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Define Tariffs

taxes that goverments apply only to imported goods.

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Define Service

An intangible good produced by labor for which people pay.

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15

Name given to scholars of the production, distribution and consumption of goods.

Economist

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15

Define Shortage

means a situation where there is not enough of something to meet the demand or need

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thief

Give points!

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25

shark

Other team loses 20 points!

Okay!

rocket

Go to first place!

Okay!

banana

Go to last place!

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15

Define Consumer

A person who uses goods.

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baam

Lose 15 points!

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seesaw

Swap points!

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fairy

Take points!

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lifesaver

Give 25 points!

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Define Market

A mechanism that allows people to exchange goods.

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Okay!

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