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Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication!

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Presentation on theme: "Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication!"— Presentation transcript:

1 Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication!

2 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Communication Game Board Global Econ Complement s/Sliments Vocab Hodge Podge Final Challenge Final Challenge

3 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 100 Value of imported goods exported exceeds value of imported goods Trade surplus

4 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 200 Balance of payments outcome when spending on exports exceeds revenues from exports Trade deficit

5 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 300 The price of one country’s currency in terms of another country’s currency Foreign exchange rate

6 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 400 A system under which the forces of supply and demand establish the value of one country's currency in terms of another country’s currency Floating exchange rate

7 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 1 for 500 System under which the price of one currency is fixed in terms of another Fixed exchange rage

8 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 100 Which way does the demand curve slope? Down

9 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 200 Which law states that more will be purchased at low prices than high prices Demand

10 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 300 How does the demand curve react to and increase in demand? Shifts right

11 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 400 When people demand more of a product at the same price level, the demand curve Shifts right

12 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 2 for 500 According to the law of demand, how does the quantity demand of a good or service relate to the price? Inversely

13 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 100 Butter and margarine Substitutes

14 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 200 Peanut Butter and Jelly Compliments

15 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 300 Cameras and film Compliments

16 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 400 Guns and Bullets Compliments

17 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 3 for 500 Nikes and Addidas Substitutes

18 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 100 Branch of theory that deals with individual decision making and behavior microeconomics

19 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 200 Part of theory dealing with the economy as a whole. Macroeconomis

20 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 300 A company sends its employees to training in hope of improving production Human capital

21 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 400 Term meaning “The customer is always right.” Consumer Sovereignty

22 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 4 for 500 Individual right to your own goods and talents Private property rights

23 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 100 Who determines the monopoly’s prices The monopoly

24 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 200 Is a movie theater a public or private good? Private

25 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 300 They are market failures because their costs and benefits are not reflected in market prices externalities

26 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 400 An engineer taking a job at another factory is an example of resource……. mobility

27 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Category 5 for 500 This entitlement is a joint federal-state insurance plan for low income households. medicaid

28 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board Reset Scores Final Challenge! What role does the President have in the federal budget? He formulates it. Write Your Final Challenge Wager


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