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lifesaver
Give 15 points!
Oops!
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fairy
Take points!
5
10
15
20
25
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shark
Other team loses 10 points!
Okay!
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banana
Go to last place!
Oops!
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eraser
Reset score!
Oops!
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gold
Win 50 points!
Okay!
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shark
Other team loses 5 points!
Okay!
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lifesaver
Give 15 points!
Oops!
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seesaw
Swap points!
Oops!
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rocket
Go to first place!
Okay!
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gift
Win 25 points!
Okay!
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banana
Go to last place!
Oops!
10
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The programs used to guide a 3D printer to make something are which type of input?
Technology
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15
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Name at least three of the social goals in an economic system (there are six)
Economic Efficiency, Economic Equity, Economic Freedom, Economic Growth, Economic Security, Economic Stability
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10
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Polaris can make snowmobiles or ATV's. If they put 80% of their resources and production toward ATV's, what is the trade off?
The trade off is they cannot produce as many snowmobiles.
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10
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If you are looking at the overall health of the United States economy are you looking more at Macroeconomics or Microeconomics.
Macroeconomics
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5
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True or False: Macroeconomics focuses on decisions made by individual businesses.
False: Macro focuses on the economy as a whole. Microeconomics focuses on individual businesses.
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10
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Name the four types of economic systems (Hint: Not capitalism, communism, etc...)
Market, Command, Traditional, Mixed
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10
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How would the United States change if we had a pure command economy?
The government would make all business decisions and own all businesses.
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20
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A production possibility curve is used to do what?
Determine the maximum amount of two goods when there is a fixed input.
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5
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True or False: The public school system is an example of communism in America
False: It is an example of socialism: Tax money is being used to support all citizens.
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15
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True or False: I would use a Production Possibility Curve to determine the maximum output between the five different goods my company produces.
False: This is only used when looking at two different goods.
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5
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Is Adam Smith well known for Capitalism or Communism?
Capitalism
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5
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True or False: A traditional economy tends to stay the same and follow what a culture has done throughout history.
True
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15
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What does it mean if a business owner has profit incentive?
They are motivated by making a profit.
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