Quiz Friday

¢Quiz: Vocabulary/Define:

1.Capitalism

2.Paradox of value-

3.Paradox of choice-

4.Escalating vs. lowered expectations

5.0pportunity –cost

9.

10.

11.

12

13.

14.Financial capital

15.production capital--

16.externalized costs,

17.Third world country

18.planned obsolescence,

19.perceived obsolescence

25 points: Draw the Economics Cycle; integrate the textbook with the Story of Stuff Model of Economic cycle

1.25 points. Using what you learned from the presentations, name 3 reasons we had the Economic Crisis in the united States (include key ideas; and terms from presentations)