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. - PowerPoint PPT PresentationTRANSCRIPT
Slide 1
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome Backgrounds
Communication!
Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsGame Board
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Communication Game Board
BasicsFactors of Production
Basic Concepts
Hodge PodgeTypes 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
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Basics for 100
What is Scarcity.What is the fundamental economic problem.
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Basics for 200
What is economics.Study of how people try to satisfy unlimited an competing wants.
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Basics for 300
What is need.Basic requirement for survival like food clothing & shelter.
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Basics for 400
What is want.A way of expressing a need.
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Basics for 500
What is how, what an for whom.What are the 3 basic economic questions.
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Factors of Production for 100
What is land.Gifts of nature or natural resources created by humans.
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Factors of Production for 200
What is Capital.Tools, Equipment, Machinery used to produce goods.
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Factors of Production for 300
What is labor.People with all their efforts, abilities an skills.
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Factors of Production for 400
A risk-taker in search of profits who does something new.What is Entrepreneur.
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Factors of Production for 500
Process of creating goods an services.What is Production.
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Basic Concepts for 100
Worth that can be expressed in Dollars an cents.
What is value.
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Basic Concepts for 200
Where Necessities, like water, have little monetary value.
What is Paradox of value.
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Basic Concepts for 300
Capacity to be useful.What is utility.
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Basic Concepts for 400
Accumulation of products that are tangible, scarce, useful an transferable.
What is wealth.
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Basic Concepts for 500
He wrote The Wealth of Nations.Who is Adam Smith
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Hodge Podge for 100
The sum of skills, abilities, health an motivation of people
What is Human Capital..
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Hodge Podge for 200
The means that we rely on others and they rely on us to provide services and
goods
is Economic Interdependence.
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Hodge Podge for 300
The cost of the next best alternative.Opportunity cost
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Hodge Podge for 400
A type of thinking about a problem that compares cost of an action with benefits
received
What is Cost benefit analysis?
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Hodge Podge for 500
AnswerQuestion?
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Types of Economics & Goals for 100
Allocation of resources stems from ritual, habit or
custom.
What is Traditional
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Types of Economics & Goals for 200
Central authority makes most of the what, how an for whom decision
Command Economy.
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Types of Economics & Goals for 300
People an firms act in their best interest as owners what, how an for whom.
What is market.
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Types of Economics & Goals for 400
What is inflation.A rise in general level of prices.
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Types of Economics & Goals for 500
What is Equity, security, efficiency, full employment, freedom, stability an
growth.
Name 4 of the 7 economic an social goals.
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Final Challenge!
Who plays the roles of protector, consumer, regulator, and promoter of the
economy?
Government
Write Your
Final Challenge
Wager