Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome...

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Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome Backgrounds Communication!

Transcript of Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome...

Page 1: Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication!

Slide 1

Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome Backgrounds

Communication!

Page 2: Slide 1 Copyright © 2004 Glenna R. Shaw & FTC Publishing Background Courtesy of Awesome BackgroundsAwesome BackgroundsCommunication!

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Communication Game Board

Global EconComplements/Sliments

VocabHodge Podge

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Final Challenge

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Category 1 for 100

Value of imported goods exported exceeds value of imported goods

Trade surplus

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Category 1 for 200

Balance of payments outcome when spending on exports exceeds revenues

from exports

Trade deficit

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Category 1 for 300

The price of one country’s currency in terms of another country’s currency

Foreign exchange rate

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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

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Category 1 for 500

System under which the price of one currency is fixed in terms of another

Fixed exchange rage

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Category 2 for 100

Which way does the demand curve slope?Down

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Category 2 for 200

Which law states that more will be purchased at low prices than high prices

Demand

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Category 2 for 300

How does the demand curve react to and increase in demand?

Shifts right

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Category 2 for 400

When people demand more of a product at the same price level, the demand

curve

Shifts right

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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

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Category 3 for 100

Butter and margarineSubstitutes

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Category 3 for 200

Peanut Butter and JellyCompliments

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Category 3 for 300

Cameras and filmCompliments

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Category 3 for 400

Guns and BulletsCompliments

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Category 3 for 500

Nikes and Addidas Substitutes

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Category 4 for 100

Branch of theory that deals with individual decision making and behavior

microeconomics

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Category 4 for 200

Part of theory dealing with the economy as a whole.

Macroeconomis

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Category 4 for 300

A company sends its employees to training in hope of improving production

Human capital

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Category 4 for 400

Term meaning “The customer is always right.”

Consumer Sovereignty

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Category 4 for 500

Individual right to your own goods and talents

Private property rights

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Category 5 for 100

Who determines the monopoly’s pricesThe monopoly

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Category 5 for 200

Is a movie theater a public or private good?Private

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Category 5 for 300

They are market failures because their costs and benefits are not reflected in

market prices

externalities

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Category 5 for 400

An engineer taking a job at another factory is an example of resource…….

mobility

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Category 5 for 500

This entitlement is a joint federal-state insurance plan for low income

households.

medicaid

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Final Challenge!

What role does the President have in the federal budget?

He formulates it.

Write Your

Final Challenge

Wager