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Economics 101

Intro micro/macro · Hard · 20 min

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About This Board

This board helps players review College · Economics through a Jeopardy-style game format on Kleveroo. It includes categories such as Micro, Macro, Markets, Trade, Thinkers. It is useful for classroom review, team trivia, family game night, test prep, and group play.

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Questions in this game

A peek at what's on the board — 5 categories and one sample clue from each. Answers stay hidden until you open them, so the game still works.

  • Micro

    Cost of next-best foregone option.

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    Opportunity cost

    +4 more clues in this category

  • Macro

    Total value of goods and services in a country.

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    GDP

    +4 more clues in this category

  • Markets

    Many small sellers offering identical product.

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    Perfect competition

    +4 more clues in this category

  • Trade

    Comparative advantage was theorized by…

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    David Ricardo

    +4 more clues in this category

  • Thinkers

    Author of 'The Wealth of Nations'.

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    Adam Smith

    +4 more clues in this category

Board content

Micro

$100 — Cost of next-best foregone option.
Opportunity cost
$200 — Quantity demanded falls as price rises.
Law of demand
$300 — Where supply meets demand.
Equilibrium
$400 — Tax on imported goods.
Tariff
$500 — Market dominated by one seller.
Monopoly

Macro

$100 — Total value of goods and services in a country.
GDP
$200 — General rise in prices over time.
Inflation
$300 — Long, deep economic downturn.
Recession (or depression)
$400 — US central bank.
Federal Reserve (the Fed)
$500 — Tool the Fed uses to control money supply.
Interest rates / open market operations

Markets

$100 — Many small sellers offering identical product.
Perfect competition
$200 — Few firms dominate a market.
Oligopoly
$300 — Many sellers with slightly differentiated products.
Monopolistic competition
$400 — Cost that doesn't change with output.
Fixed cost
$500 — Income left after taxes.
Disposable income

Trade

$100 — Comparative advantage was theorized by…
David Ricardo
$200 — Trade-promoting org founded 1995.
WTO (World Trade Organization)
$300 — Tax on imports.
Tariff
$400 — Limit on imports of a product.
Quota
$500 — Currency exchange rate determined by markets.
Floating exchange rate

Thinkers

$100 — Author of 'The Wealth of Nations'.
Adam Smith
$200 — Economist behind demand-side macro policy.
John Maynard Keynes
$300 — Co-author of 'The Communist Manifesto'.
Karl Marx (with Engels)
$400 — Free-market champion at the Chicago School.
Milton Friedman
$500 — 'Invisible hand' is a metaphor from…
Adam Smith

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