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 +100 -100 0 +100 -100 0 +100 -100 0 Reset Scores Communication Game Board Global Econ Complement s/Sliments Vocab Hodge Podge 100 200 300 400 500 Final Challenge Final Challenge

3. Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome Backgrounds Game Board Game Board +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 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 +100 -100 0 +100 -100 0 +100 -100 0 Reset Scores Final Challenge! What role does the President have in the federal budget? He formulates it. Write Your Final Challenge Wager