Communication
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Communication!. Communication Game Board. Basics. Factors of Production. Basic Concepts. Hodge Podge. Types of Economics & Goals. 100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500. 500.

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Communication!

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Communication!


Communication Game Board

Basics

Factors of Production

Basic Concepts

Hodge Podge

Types of Economics & Goals

100

100

100

100

100

200

200

200

200

200

300

300

300

300

300

400

400

400

400

400

500

500

500

500

500

Final Challenge


What is Scarcity.

What is the fundamental economic problem.

Basics for 100


What is economics.

Study of how people try to satisfy unlimited an competing wants.

Basics for 200


What is need.

Basic requirement for survival like food clothing & shelter.

Basics for 300


What is want.

A way of expressing a need.

Basics for 400


What is how, what an for whom.

What are the 3 basic economic questions.

Basics for 500


What is land.

Gifts of nature or natural resources created by humans.

Factors of Production for 100


What is Capital.

Tools, Equipment, Machinery used to produce goods.

Factors of Production for 200


What is labor.

People with all their efforts, abilities an skills.

Factors of Production for 300


A risk-taker in search of profits who does something new.

What is Entrepreneur.

Factors of Production for 400


Process of creating goods an services.

What is Production.

Factors of Production for 500


Worth that can be expressed in Dollars an cents.

What is value.

Basic Concepts for 100


Where Necessities, like water, have little monetary value.

What is Paradox of value.

Basic Concepts for 200


Capacity to be useful.

What is utility.

Basic Concepts for 300


Accumulation of products that are tangible, scarce, useful an transferable.

What is wealth.

Basic Concepts for 400


He wrote The Wealth of Nations.

Who is Adam Smith

Basic Concepts for 500


The sum of skills, abilities, health an motivation of people

What is Human Capital..

Hodge Podgefor 100


The means that we rely on others and they rely on us to provide services and goods

is Economic Interdependence.

Hodge Podgefor 200


The cost of the next best alternative.

Opportunity cost

Hodge Podgefor 300


A type of thinking about a problem that compares cost of an action with benefits received

What is Cost benefit analysis?

Hodge Podgefor 400


Answer

Question?

Hodge Podgefor 500


Allocation of resources stems from ritual, habit or

custom.

What is Traditional

Types of Economics & Goals for 100


Central authority makes most of the what, how an for whom decision

Command Economy.

Types of Economics & Goals for 200


People an firms act in their best interest as owners what, how an for whom.

What is market.

Types of Economics & Goals for 300


What is inflation.

A rise in general level of prices.

Types of Economics & Goals for 400


What is Equity, security, efficiency, full employment, freedom, stability an growth.

Name 4 of the 7 economic an social goals.

Types of Economics & Goals for 500


Who plays the roles of protector, consumer, regulator, and promoter of the economy?

Government

Final Challenge!

Write Your

Final Challenge

Wager


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