Podcast
Questions and Answers
What has Eric been waiting for at the shoe store for three months?
What has Eric been waiting for at the shoe store for three months?
- A new brand of shoes (correct)
- His friends
- His birthday
- A school project
Why has Eric been eagerly waiting for the shoes at the store?
Why has Eric been eagerly waiting for the shoes at the store?
- Because they are popular (correct)
- Because they are discounted
- Because they are on sale
- Because they are expensive
What sign does Eric see when he arrives at the store?
What sign does Eric see when he arrives at the store?
- A back-in-stock sign
- A discount sign
- A clearance sale sign
- A sold out sign (correct)
What is Eric's reaction to seeing the 'sold out' sign?
What is Eric's reaction to seeing the 'sold out' sign?
How might Eric feel about the new shipment arriving in two weeks?
How might Eric feel about the new shipment arriving in two weeks?
How would you describe the situation at the store in economic terms?
How would you describe the situation at the store in economic terms?
What economic concept is illustrated in the situation where 24 kids in Mr. Hall's class want to color with only 3 markers?
What economic concept is illustrated in the situation where 24 kids in Mr. Hall's class want to color with only 3 markers?
How did Henry Ford sell more cars at a lower price?
How did Henry Ford sell more cars at a lower price?
What is the best strategy for Ms. Marcel's class to sell more cupcakes at the bake sale?
What is the best strategy for Ms. Marcel's class to sell more cupcakes at the bake sale?
What are Tamika's parents doing when they put money aside for vacation or make a contribution to Minnie's Pantry?
What are Tamika's parents doing when they put money aside for vacation or make a contribution to Minnie's Pantry?
In the scenario provided, what kind of economic activity is represented by Eric buying a new pair of basketball shoes for his game?
In the scenario provided, what kind of economic activity is represented by Eric buying a new pair of basketball shoes for his game?
What does the concept of scarcity teach us about resources?
What does the concept of scarcity teach us about resources?
If Julia uses beads that cost $1.00 in her necklaces instead of 50 cents, what is likely to happen to her profits?
If Julia uses beads that cost $1.00 in her necklaces instead of 50 cents, what is likely to happen to her profits?
What is the profit Julia makes when she sells just one necklace made with beads that cost 50 cents?
What is the profit Julia makes when she sells just one necklace made with beads that cost 50 cents?
If Julia decides to increase the selling price of her necklaces to $4.00, what is likely to happen to her sales volume?
If Julia decides to increase the selling price of her necklaces to $4.00, what is likely to happen to her sales volume?
How much money will you have left in total after spending $7 on decorations, food, and a gift for your hamster?
How much money will you have left in total after spending $7 on decorations, food, and a gift for your hamster?
What could happen to the amount you plan to save if you decide to buy a more expensive gift for your hamster?
What could happen to the amount you plan to save if you decide to buy a more expensive gift for your hamster?
If you increase your donation amount, what impact might it have on your savings for the party?
If you increase your donation amount, what impact might it have on your savings for the party?
