Team 1
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Team 2
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Teams
Name
Score
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15
×
What is deflation?
Period where level of aggregate demand is falling
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15
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What is inflation?
A general and continuous rise in prices
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trap
No points!
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gift
Win 20 points!
Okay!
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gift
Win 25 points!
Okay!
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banana
Go to last place!
Oops!
15
×
What is macroeconomics?
Study of large economic systems
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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 are capital goods?
Products purchased by other companies to produce other goods
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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 is interest rate?
Price paid to lenders for borrowed money
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15
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What are the factors of production?
Land, labor, capital, entrepreneurship
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seesaw
Swap points!
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magnet
Take 25 points!
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fairy
Take points!
5
10
15
20
25
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banana
Go to last place!
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15
×
What does production possibility curve show?
The maximum number of goods that can be produced with all the given resources
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boom
Lose 50 points!
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shark
Other team loses 20 points!
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fairy
Take points!
5
10
15
20
25
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banana
Go to last place!
Oops!
15
×
What is aggregate demand?
Total demand from consumers
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lifesaver
Give 20 points!
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gift
Win 25 points!
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gift
Win 25 points!
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lifesaver
Give 5 points!
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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 are consumer goods?
Products purchased by households and individuals
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