Economics Basics Flashcards

1

What does it mean to negotiate?

Sell all your assets
Hope for something
Get through talking
Get through silence

2

What is scarcity?

High demand, low supply
Competition fears market
Low demand, high supply
Market fear of competition

3

What does it mean to compromise?

Agreement by both sides
Disagreement over everything
No sides give up
Agreement by one side

4

What does it mean to be persistent?

Finish something hard
Fail and stop trying
Stop and change tasks
Finish something easy

5

What does procrastination mean?

Work all the time
Put off and waste time
Stay busy
Do something early

6

What is prosperity?

Having enough money
Not enough money
Voting for wrong person
Visiting Prospect Park

7

True or false: A monopoly has no competition.

True
False

8

What to consider when taking risks?

Wait for money to come
Take risks all the time
Take risks to succeed
Risks are too dangerous

9

What does it mean to diversify your portfolio?

To have different things
To have the same things
To own a stock
To have nothing

10

What is real estate?

Parking lots with cars
Land with buildings
Water with boats
Mountains with goats

11

What is a monopoly?

A company sells out
A gaming company
A profit-sharing company
One company dominates

12

True or false: Procrastination is a form of time management.

False
True

13

What does it mean to accumulate wealth?

To lose
To be late
To erase
To gain

14

True or false: Scarcity means having too much supply.

True
False

15

How do you win Monopoly?

Own all properties
Have more money
Open a business
To go bankrupt

Economics Basics

Questions 15

Economics Basics

Questions 15