QUIZ FRIDAY

QUIZ Friday! 100 points

A. Vocabulary/Define:
Capitalism=
Profit motive
Paradox of value-
Escalating expectations
0pportunity –cost
Financial capital
production capital
externalized costs
planned obsolescence,
perceived obsolescence
Entrepreneur
Consumer sovereignty=


B. Short Essay: explain each of the 7 goals of economy; list the 3 most important
C. Draw
1. The text book business cycle
2. The externalization of costs, etc.; ideas from “Story of Stuff”
D. What can you learn from:
George lucas—car accident was eye opening experience to take life seriously; life is short
Walt Disney----failed as filmmaker; cartoon artist led to Mickey Mouse