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Team 2
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Score
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15
×
Differentiate needs and wants.
essential (may remain constant over time) vs. desire (may change overtime)
Oops!
Check
Okay!
Check
10
×
what are the two types of Economics?
Microeconomics and Macro Economics
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thief
Give points!
5
10
15
20
25
×
gift
Win 15 points!
Okay!
×
shark
Other team loses 20 points!
Okay!
×
lifesaver
Give 15 points!
Oops!
5
×
It is an economic system in which the ownership of factors is in the hands of a private group or individuals.
Capitalism
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10
×
Enumerate the 3 scarce resources.
natural, human, and physical resources
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trap
No points!
Oops!
×
shark
Other team loses 25 points!
Okay!
×
gift
Win 25 points!
Okay!
×
thief
Give points!
5
10
15
20
25
15
×
Differentiate consumer products and consumer services.
personal and household needs vs. rendered by the different business firms
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Check
Okay!
Check
15
×
Differentiate individual choice and social choice.
people acting separately vs. government
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Okay!
Check
×
boom
Lose 50 points!
Oops!
×
star
Double points!
Okay!
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rocket
Go to first place!
Okay!
×
thief
Give points!
5
10
15
20
25
5
×
He is the proponent of Law of Comparative Advantage.
David Ricardo
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15
×
Differentiate allocation and economic system.
distribution vs. activities that answer the basic questions on the needs
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5
×
It is a social science concerned with the production, distribution, and consumption of goods and services.
Economics
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5
×
Economists used _______ to explain the present condition of the economy.
statistical data
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5
×
A wise consumer is watchful and mindful.
Alert
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15
×
How old is Teacher JM?
23
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15
×
Differentiate chemistry and physics.
composition of chemical vs. matter and energy (technology)
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Check
Okay!
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×
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