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Economics and the Lorax Flashcards | StudBud
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Economics and the Lorax
Economics and the Lorax
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What economic concepts are in The Lorax?
Flashcards
16 cards
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Questions
16
Answers
1
The Once-ler was (a)n....
Entrepreneur
Environmentalist
Philanthropist
Dictator
2
The Onceler biggered his productivity with tools. What else did he bigger?
Money
Products
Workers
Natural Resources
3
If there had been private property rights in the Lorax, the Once-ler would have had to....
Steal the land
none of the above
Take the land using eminent domain
Buy the land
4
What factors of production are in the Lorax?
Natural
All of the above
Labor
Capital
5
In the
beginning
was the business a sole proprietorship, a partnership or a corporation?
sole proprietorship
partnership
corporation
franchise
6
What popular product and natural resource did the Once-ler produce and use up?
Thneeds & Brown Bar-ba-loots
Thneeds &Truffula Trees
Super-Axe-Hacker & Fish
Super-Axe Hacker & Truffula Seeds
7
Which of the following economic principles is illustrated in The Lorax?
Future Consequences Count
All of the above
Trade Makes People Better Off
Costs v. Benefits
8
Industrialization has caused which type of resource to often be replaced with what type?
Human to natural
Human to capital
Natural to human
Natural to capital
9
The Once-ler had machines to do specific things. What pillar of free enterprise is this?
voluntary exchange
specialization
price system
private property
10
How would the Once-ler's standard of living at the end be different if he had NHS Economics?
Much better
Lower
Higher
No change
11
Would you describe the Once-ler's actions as rational?
Of course!
Yes, he was the man!
Yes, he was an entrepreneur
No, his marginal costs eventually beat his marginal benefits
12
The super axe-hacker was an example of a(n)....
labor resource
none of the above
natural resource
capital resource
13
Who said, "Unless someone cares nothing is going to get better."
Mr. Scallon
Once-ler
None of the above
The Lorax
14
What would cause the production possibilities curve for thneeds to shift to the right?
Once-ler produces more fruit than thneeds
Once-ler hiring employees
Once-ler cuts down the last Truffula tree
None of the above
15
What type of economy was in The Lorax?
Traditional
Mixed Market
Pure Market
Command
16
The Truffula trees represent the concept of _____.
capital goods
incentives
scarcity
entrepreneurship
