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Teams
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monster
Reset all scores!
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seesaw
Swap points!
Okay!
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shark
Other team loses 5 points!
Okay!
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baam
Lose 15 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 the factors of production?
Land, labor, capital, entrepreneurship
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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 are consumer goods?
Products purchased by households and individuals
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banana
Go to last place!
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magnet
Take 5 points!
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shark
Other team loses 15 points!
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thief
Give points!
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25
15
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What is deflation?
Period where level of aggregate demand is falling
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15
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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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What is economic growth?
Increase in the level output by a nation
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monster
Reset all scores!
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gift
Win 15 points!
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gift
Win 20 points!
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banana
Go to last place!
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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 does PPC stand for?
Production possibility curve
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15
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Give an example of opportunity cost
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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 is opportunity cost?
Cost of the next best alternative given up
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