Team 1
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Team 2
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Teams
Name
Score
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×
lifesaver
Give 15 points!
Oops!
×
fairy
Take points!
5
10
15
20
25
×
rocket
Go to first place!
Okay!
×
baam
Lose 5 points!
Oops!
20
×
There is no scarcity in a one-man economy. True or false? Explain.
False. The resources may still be insufficient to satisfy the man's wants.
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Okay!
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15
×
Elon Musk, the founder of Amazon, is the richest person in the world. Does he face scarcity? Explain.
Yes. Even though he is rich, his resources are limited and some of his wants have not been satisfied.
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Okay!
Check
10
×
In this world, we have unlimited wants. True or false?
True
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Okay!
Check
10
×
If I choose to record TikTok videos, my opportunity cost is… (1 = lowest value, 10 = highest value)
Play league of legends
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Check
Okay!
Check
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thief
Give points!
5
10
15
20
25
×
shark
Other team loses 15 points!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
thief
Give points!
5
10
15
20
25
10
×
This missing word in the picture is...
Scarcity
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Check
Okay!
Check
×
eraser
Reset score!
Oops!
×
rocket
Go to first place!
Okay!
×
fairy
Take points!
5
10
15
20
25
×
baam
Lose 20 points!
Oops!
20
×
Explain what is Economics.
Economics is a study of how people make choices under the condition of scarcity.
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Okay!
Check
×
baam
Lose 25 points!
Oops!
×
star
Double points!
Okay!
×
rocket
Go to first place!
Okay!
×
lifesaver
Give 25 points!
Oops!
10
×
What is opportunity cost?
Opportunity cost of a choice is the value of the highest-valued option forgone.
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Okay!
Check
15
×
If the quantity of a resource is fixed, the resource must be scarce. True or false? Explain.
False. Even when the quantity of resources is fixed, it is not scarce if the quantity available is enough to satisfy all people’s wants.
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Okay!
Check
15
×
Is GP’s playground considered a scarce resource? Explain.
Yes. There’s not enough space to satisfy everyone’s wants.
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Okay!
Check
10
×
In this world, we have unlimited resources. True or false?
False
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Check
Okay!
Check
20
×
What is microeconomics? Give an example of something that is studied in microeconomics.
Studies how individuals and companies make decisions e.g. how many masks should a company produce?
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Check
20
×
Every time when we choose the same option, we will face the same opportunity cost. True or false? Explain.
False. The value of the highest-valued option forgone may change.
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Check
Okay!
Check
×
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