Presentation on theme: "Economics Understandings To play the game, go to the next slide and click on a point value to go to a question. To go to final Wrap-Up click on Final Wrap-Up."— Presentation transcript:
Economics Understandings To play the game, go to the next slide and click on a point value to go to a question. To go to final Wrap-Up click on Final Wrap-Up at the bottom of the main screen.
Types of Economies International Trade Barriers European Economic Systems Vocabulary GDP and Resources
Team 1Team 2Team 3Team 4 Team 5 Wager board
What type of economy uses customs and habits of the past to decide what and how goods will be produced, distributed, and consumed?
Traditional Economy score board
What type of economy relies on planning groups to make basic economic decisions?
Command Economy score board
In what type of economy do individuals or corporations make economic decisions?
Market Economy score board
What type of economy is not found in Europe?
Traditional Economy scoreboard
Since there is no pure command or market economy, what term is used to refer to these economies?
Mixed Economies score board
Why do people have to exchange currency?
To conduct business with people from other countries score board
What is the currency of Russia?
Ruble score board
What are Russia’s two leading exports of natural resources?
Oil and natural gas score board
What percentage of the people in the United Kingdom work in service jobs?
80 percent score board
What condition helped the United Kingdom become a leader in world trade?
It is home to the world’s busiest airport and has seven other large airports. score board
What is the GDP (Gross Domestic Product)?
The total value of all the goods and services produced in a country in one year score board
What results when the GDP of a country is raised?
The standard of living rises. score board
Russia, Germany, and the United Kingdom invested heavily in human capital. What are two items that are considered human capital?