Fundamentals of Economics | Baamboozle - Baamboozle

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15

An economic system that follows what was done in the past.

Traditional

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15

What economic system focuses on the goal of equity?

Command

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15

Individuals may decide what kind of work they do in this economic system.

Market or mixed

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15

An economic system that does not guarantee everyone a job or even their basic needs to be met.

Command

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15

An economic system that allow businesses to make all decisions without government interference.

Market

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15

What is the main reason that determines our economic choices?

scarcity

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heart

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gift

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gift

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banana

Go to last place!

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15

When you make a decision, you give up the next best alternative. What is this called?

opportunity cost

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15

This economic system provides Social Security and Medicare to its citizens.

Mixed

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15

What is used in economics to illustrate economic growth?

production possibilities curve

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Large numbers of people are involved in decision-making in this economic system.

Market or Mixed

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seesaw

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fairy

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shark

Other team loses 20 points!

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lifesaver

Give 25 points!

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15

Investments in human capital lead to a higher...

standard of living

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15

Equipment, buildings, and tools used to produce a good are called ______ resources.

capital

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Individuals have little choice in the work they do in this economic system.

Command

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baam

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seesaw

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fairy

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thief

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