2. A Economics Review Activity

3. Setup Directions:  Type a vocabulary word on each of the following 10 slides in the subtitle textbox. When complete, run the show by pressing F5 on the keyboard.  One student stands with back to this presentation.  The class gives the student clues to the vocabulary word onscreen as a clock keeps time.  The student tries to guess the word before the buzzer.

4. Ready to play?

5. T The price of a product if consumers demand more of it would make the price ________ _____? The is…

6. Go up The is…

7. Why aren’t you allowed to bring food into a theater? The is…

8. The owners want you to buy food they sell inside. The is…

9. In order to increase recycling the Michigan government has offered people what incentive? The is…

10. 10 cents is given to people who return bottles or cans. The is…

11. What is scarcity? The is…

12. A shortage of a product wanted or needed. The is…

13. What is opportunity cost? The is…

14. Because of an increase demand for a product a couple chose their second option instead of their first choice. The is…

15. What is choice? The is…

16. Business owners decide what consumers want to buy.

17. One year, Ann had to use mostly Blueberries for her fudge because Cherries were not available. So, Ann could sell the fudge at a lower Price because it could be sold at Lower price? This shows?

18. Scarcity affects what we buy in Michigan.

19. A truck, tools or a building are an example of what type of _______ resource?

20. This is an example of a capital resource.

21. A new car company started in Michigan. Name 3 human resources needed to run this company.

22. Some human resources are designers, engineers and factory workers.

23. Most companies need natural human, and capital resources to function. Name the natural resource for a motor company.

24. The natural resource needed is water.

25. More wind turbines are being built in Michigan, predict what may happen as a result of this.

26. More jobs will be created.

27. Michigan government uses state Taxes to provide goods and services for their citizens. What good would most likely be provided by our government?

28. The government provides roads for us.

29. Susan needs to get a driver’s license from the Secretary of State office. The service provided by the state govern- ment is?

30. The service is getting a license from the Sec. of State.

31. Give an example of how goods are funded by the state government.

32. People who work pay taxes to the government.

33. People who break state laws have to pay a fine to the state government. Why?

34. This product is available in Michigan but comes from another country. What is this product?

35. The product is bananas.

36. Name a reason why car manufacturing companies are located near highways and rivers.

37. It is easy for car manufacturers to transport its goods.

38. The best location for most services is _________.

39. The best location is cities.

40. Agriculture is another word For farming. Michigan farms Produce corn, celery, potatoes, Carrots, cherries and other Plants. Name the main Reason for so many farms In Michigan.

41. The farms sell the crops for money and this is how they earn a living.