Macroeconomics Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
| Question | Answer |
| What is the 1st principle of economics? | People face trade-offs |
| What is the 2nd principle of economics? | The cost of something is what you give up to get it |
| What is the 3rd principle of economics? | Rational people think at the margin |
| What is the 4th principle of economics? | People respond to incentives |
| What is the 5th principle of economics? | Trade can make everyone better off |
| What is the 6th principle of economics? | Markets are usually a good way to organize economic activity |
| What is the 7th principle of economics? | Governments can sometimes improve market outcome |
| What is the 8th principle of economics? | A country's standard of living depends on its ability to produce goods and services |
| What is the 9th principle of economics? | Prices rise when the government prints too much money |
| What is the 10th principle of economics? | Society faces a short-run trade-off between inflation and unemployment |
| What do the first 4 principles of economics discuses? | How rational people make decisions and what costs are |
| What does the 5th, 6th, and 7th principle of economics discuses? | How people interact |
| What do the last 3 principles of economics discuses? | GDP, what happens when the Federal Reserve increases the money supply, and unemployment |
| What is an increase in the overall level of prices in the economy? | Inflation |
Created by:
beckster3000
Popular Economics sets