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15
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Name two macroeconomic objectives
Controlling inflation, Economic growth
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15
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What are consumer goods?
Products purchased by households and individuals
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15
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What is opportunity cost?
Cost of the next best alternative given up
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15
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What is the basic economic problem?
Wants are unlimited, but resources are scarce
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15
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What can lead to economic growth?
New technology, improved efficiency, education and training, new resources
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15
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What are capital goods?
Products purchased by other companies to produce other goods
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trap
No points!
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star
Double points!
Okay!
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rocket
Go to first place!
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baam
Lose 15 points!
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heart
Other team wins 25 points!
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gold
Win 50 points!
Okay!
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rocket
Go to first place!
Okay!
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baam
Lose 5 points!
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seesaw
Swap points!
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fairy
Take points!
5
10
15
20
25
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gift
Win 20 points!
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lifesaver
Give 20 points!
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15
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What does PPC stand for?
Production possibility curve
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15
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What is inflation?
A general and continuous rise in prices
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15
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What does Economics study?
Allocation of scarce resources
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15
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What is interest rate?
Price paid to lenders for borrowed money
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15
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What is microeconomics?
Study of small economic systems
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15
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What does GDP measure?
Country's total output for the year
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eraser
Reset score!
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shark
Other team loses 15 points!
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rocket
Go to first place!
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baam
Lose 10 points!
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