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Page 1: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500
Page 2: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Principles ofEconomics

ProductionEconomic

Performance1

Economic Performance

2

InternationalTrade

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$200 $200 $200 $200 $200

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$500 $500 $500 $500

Supply andDemand

Page 3: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

_______ is the cost of what you give up to obtain an

item.

Page 4: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Opportunity Cost

Page 5: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

________ is the cost you can never recover no matter

Page 6: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Sunk cost

Page 7: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

________ is the small or

incremental amount you would pay extra to have

more

Page 8: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Marginal Cost

Page 9: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Humankind has unlimited wants but our

resources are limited thus creating the problem of

________

Page 10: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Scarcity

Page 11: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

___= revenue – cost of production

Page 12: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Profit

Page 13: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

A ____ is anything an individual wants

more of at zero price.

Page 14: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Good

Page 15: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Copper and iron are ______ natural

resources.

Page 16: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Exhaustible

Page 17: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

_____ is the study of how a society

manages its scarce resources.

Page 18: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Economics

Page 19: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

When you _______ in something, it means you focus on one task enabling you to be more efficient and productive.

Page 20: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Specialize

Page 21: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

All factors of production are called ________

Page 22: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Capital resources or capital goods

Page 23: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Demand for a good exists only when consumers are both _____

and ____ to buy it

Page 24: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Willing and able

Page 25: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

If elasticity is greater than 1.0,

demand is ______.

Page 26: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Elastic

Page 27: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

As substitutes become cheaper, demand for the

normal good will _____

Page 28: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Decrease

Page 29: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

_____ goods are goods that go together and usually sold

together.

Page 30: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Complementary goods

Page 31: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

A ______ exists when quantity

demanded is lower than quantity

supplied.

Page 32: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Surplus

Page 33: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

When firms get together to fix

prices and quantity it is called

Page 34: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Cartel

Page 35: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

A profit-seeking individual who

accepts all risk of success or failure

in business

Page 36: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Entrepreneur

Page 37: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

When 1 person or 1 group holds all market power in

an industry

Page 38: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Monopoly

Page 39: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Who pays more taxes- a sole

proprietor or a corporation?

Page 40: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Corporation

Page 41: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Legal obligation of a firm to pay off all

debts

Page 42: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Liability

Page 43: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Which type of spending makes up 60% or more of our nation’s

spending?

Page 44: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Consumption

Page 45: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Which type of GDP takes inflation into

account- real or nominal?

Page 46: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Real

Page 47: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

I’m thinking of a # 1-10. What is it?

Page 48: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

8

Page 49: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500
Page 50: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

What are the 2 phases of a

business cycle?

Page 51: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Expansion and recession

Page 52: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Which type of unemployment is

caused by recession?

Page 53: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Cyclical

Page 54: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

A point of reference to

measure inflation

Page 55: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Consumer price index

Page 56: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

_______ are taxes countries place on imported goods.

Page 57: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Tariffs

Page 58: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

_______ is a free trade agreement

among US, Mexico, and Canada

Page 59: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

NAFTA

Page 60: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

The ______ theory states that developing countries will

eventually catch up with the industrialized countries.

Page 61: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Convergence Theory

Page 62: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Crude oil makes up ___% of our

nation’s imports.

Page 63: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

17%

Page 64: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Make your wager

Ms. So’s husband

Page 65: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

In which city did the Rock play

college football?

Page 66: Principles of Economics Production Economic Performance 1 Economic Performance 2 International Trade $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

Miami


200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 CampaignsConstitutionExecutiveLegislativeVariety

JEOPARDY. JEOPARDY 100 200 400 300 500 200 300 400 500 200 300 400 500 200 300 400 500 200 300 400 500

Jeopardy $100 Misc.GeographyAnimalsPeopleCoral $200 $300 $400 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300

JEOPARDY 1930s Categories 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 500

$200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300

$100 $400 $300 $200 $400 $200 $100$100 $400 $200$200 $500 $500 500 $300 300 $200 200 $500 $100 100 $300 $100 $300 $500 $300 $400 400 $400 $500

$100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500…

KnowledgeApplicationAnalysisSynthesis $200 $300 $400 $500 $400 $300 $200 $500 $400 $300 $200 $500 $400 $300 $200

$200 $300 $400 $500 $300 $400 $500 $300 $400 $500 $300 $400 $500 $300 $400 $500 $300 $400 $500 $100 $200 $100

Jeopardy $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

PeopleRulersDynastiesVocabularyPlaces 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

$100 $400 $300 $200 $400 $200 $100$100 $400 $200$200 $500$500 $300 $200 $500 $100 $300 $100 $300 $500 $300 $400$400 $500

$500 $500 $400 $400 $300 $300 $200 $200 $100 $100 $500 $500 $400 $400 $300 $300 $200 $200 $100 $100 $500 $500 $400 $400 $300 $300 $200 $200 $100 $100

100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 Coordinate Geometry ProofsPolygonsTriangles

$100 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400

$100$200$100$300$100$200 $400 $200$200$400 $100$400$100$400 $500 $200$500 $300$500$300$300$500$300$400 $500

$100 $400 $300$200$400 $200$100$100$400 $200$200$500 $500$300 $200$500 $100$300$100$300 $500$300$400$400$500

Jéopardy VocabulaireGrammaireRèglesTraductionCulture 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500

$100 $100 $100 $100 $500 $500 $500 $500 $200 $200 $200 $200 $300 300 $300 300 $300 300 $300 300 $400 400 $400 400 $400 $400 $400 $400 $500 500 $500

Jeopardy $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $400 $300 $200 $100 $500 $400 $300 $200 $100 $500 $400 $300 $200 $100 Business

No Slide Title · $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

BritainU.S.FrancePeopleVocab 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

STARS & GALAXIES JEOPARDY. 100 200 300 200 100 500 400 300 200 300 500 200 400 300 500 400 500 400 300

JEOPARDY Nationalism Categories 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 celuilequel

200 300 400 500 Europe & Geography 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100

100 200 300 400 500 100 300 400 500 200 300 400 500 200 300 400 500 400 300 200 500

JEOPARDY Imperialism Categories 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

Parabolas $100 100 $300 $300 $200 200 $400 400 $500 500 $100 100 $300 300 $200 200 $400 400 $500 500 $100 100 $300 300 $200 200 $400 400 $500 500 $100

1 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500 $100 $200 $300 $400 $500

$ 200 200 $ 300 300 $ 400 400 $ 500 500 $ 100 $ 200 200 $ 300 300 $ 400 400 $ 500 500 $ 100 100 $ 200 200 $ 300 300 $ 400 400 $ 500 500 $ 100 100 $ 200

GeographyCultureDynastiesVocabularyReligion 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

Jeopardy Jeopardy 200 100 200 300 400 500 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500 100 200 300 400 500

$100 $200 $300 $400 $500 $200 $300 $400 $500 $200 $300 $400 $500 $200 $300 $400 $500 $200 $300 $400 $500 $200 $300 $400 $500 OTHEROTHER IICAUSESPEOPLEBATTLES