not having enough resources to satisfy every need (surplus or scarcity)
scarcity
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15
an economy in which goods and services are produced the way they have always been produced; used in countries that are less developed and are not yet participating in the global economy (traditional, command, market, or mixed)
traditional
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15
things you can see and touch; they are products you can purchase to meet your wants and needs (goods or services)
goods
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monster
Reset all scores!
Oops!
magnet
Take 25 points!
Okay!
fairy
Take points!
5
10
15
20
25
banana
Go to last place!
Oops!
15
an economic concept that states that the price of a good rises and falls depending on how many people want it (demand) and depending on how much of the good is available (supply)
supply and demand
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15
someone who takes a risk in starting a business to earn a profit (consumer or entrepreneur)
entrepreneur
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trap
No points!
Oops!
star
Double points!
Okay!
gift
Win 20 points!
Okay!
banana
Go to last place!
Oops!
15
a tax based on real estate and other property (income tax or property tax)
property tax
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15
A natural resource that is not replaced in a useful time frame (renewable resource or nonrenewable resource)
nonrenewable resource
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15
activities provided for the satisfaction of others that are consumed at the same time they are produced (goods or services)
services
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heart
Other team wins 15 points!
Oops!
gift
Win 25 points!
Okay!
shark
Other team loses 25 points!
Okay!
banana
Go to last place!
Oops!
15
an economy in which most resources are owned and controlled by individuals; there is a large variety of goods and services are available and there is little government regulation (traditional, command, market, or mixed)
market
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15
the quantity of a good or service that consumers are willing and able to buy (supply or demand)
demand
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banana
Go to last place!
Oops!
shark
Other team loses 25 points!
Okay!
rocket
Go to first place!
Okay!
banana
Go to last place!
Oops!
15
Any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time (renewable resource or nonrenewable resource)
renewable
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15
a tax on people's earnings (sales tax or income tax)