Econ Unit Test Review Game

In the business cycle, what is the red arrow indicating?

The three main types of taxes are...

What does GDP mean?

To postively impact the GDP, do we want more IMPORTS or EXPORTS?

What label does the purple box represent?

What type of income is received from Entrepreneurship?

As the price of a product goes up, the quantity supplied goes ____________?

What does the yellow x represent?

What is the third type of economic system? 1. Market, 2. Traditional, 3. ??

What label does the green box represent?

Total Revenue- Total Cost=

What type of income is received from Labor?

In the business cycle, what is the green arrow indicating?

Price x Quantity =

What type of income is received from Land?

What is the fourth category of resource? 1. Land, 2. Labor, 3. Capital, 4 ???

What type of income is received from Capital?

Profit is

What does the term "surplus" mean?

What does the red line represent?

As the price of a product goes up, the quantity demanded goes ____________?

What does the pink x represent?

Total Revenue is

What does the blue line represent?

A product purchased from another country.

A tax is

What does the orange circle represent?

In the business cycle, what is the yellow arrow indicating?

In the business cycle, what is the blue arrow indicating?

What does the word "Domestic" mean?

A product sold to another country.