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QR Challenge: Economics Review

Created using the ClassTools QR Treasure Hunt Generator

Teacher Notes

A. Prior to the lesson:

1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.

2. If their phone camera doesn't automatically detect and decode QR codes, ask students to

3. Print out the QR codes.

4. Cut them out and place them around your class / school.


B. The lesson:

1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.

2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.

3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!


C. TIPS / OTHER IDEAS

4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.


Questions / Answers (teacher reference)

Question

Answer

1. This economic indicator provides a snapshot of the country’s overall economic health. It also helps the government make decisions and fluctuates with the business cycle.Gross Domestic Product
2. This country has one of the largest national debts in the world.United States
3. Stage of the business cycle when unemployment is high and production is low.Depression
4. During a recession, businesses may drop prices as a way to stimulate demand. While this may sound like a good thing for shoppers, this may also mean a loss of jobs or declining wages.Deflation
5. The rise and fall in the production of goods measured by gross domestic product.Business Cycle
6. Stage of the business cycle when unemployment is low, production of goods and services are high, and new businesses are opening.Prosperity
7. The United States experienced a _______ in 2008, largely contributed to the real-estate industry, among other causes. During this time economic activity slowed down and businesses laid off workers.Recession
8. During a depression this economic indicator would likely be high. It measures the number of people who are able and willing to work but cannot find work in a given period.Unemployment Rate
9. Under conditions of this economic indicator prices rise over time and your dollar is worth less.Inflation
10. This is what a business owns.Assets
11. Business, individuals, and governments make decisions about satisfying unlimited wants with limited resources by looking at?Economics
12. Water is an example of what factor of production?Natural Resource
13. Besides businesses, who else plays a role in economic activity?Consumers
14. This is what a businesses owes.Liabilities
15. The physical labor involved in making products describes which factor of production?Labor
16. Tangible items that are produced and sold to a consumer.Goods
17. These are crucial to the advancement and progression of our world.Businesses
18. Materials or tools that are used to produce a good are considered what type of factor of production?Capital
19. Oprah Winfrey and Bill Gates are considered what type of factor of productionEntrepreneurial
20. This is the problem of trying to meet infinite wants with limited resources.Scarcity
21. Because ALL economic resources are scarce, every society must answer three questions:What goods and services should be produced? How should these goods and services be produced? Who consumes these goods and services?
22. The law of ______ is when there is an inverse or negative relationship between the price of a good or service and the quantity demanded of that good or service.Demand
23. The law of _____ is when there is a direct (positive) relationship between the price of a good or service, and the quantity supplied of that good or service.Supply
24. _____ is when the quantity demanded is equal to the quantity supplied at a price that clears the market.Market Equilibrium
25. This type of economy is a system that relies on customs and culture to guide economic decisions and they mostly rely on natural resources.Traditional Economy
26. An economic system that is controlled by the government is called?Centrally Planned
27. In this economic system, private businesses control production and profits.Market
28. In this economic system, the government controls factors of production, but it’s owned by private businesses.Mixed
29. This economic indicator measures the degree of optimism about the state of the economy that consumers are expressing through their activities of saving and spending.Consumer Confidence Index

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q1/29:

This economic indicator provides a snapshot of the country’s overall economic health. It also helps the government make decisions and fluctuates with the business cycle.&choe=UTF-8

Question 1 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q2/29:

This country has one of the largest national debts in the world.&choe=UTF-8

Question 2 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q3/29:

Stage of the business cycle when unemployment is high and production is low.&choe=UTF-8

Question 3 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q4/29:

During a recession, businesses may drop prices as a way to stimulate demand. While this may sound like a good thing for shoppers, this may also mean a loss of jobs or declining wages.&choe=UTF-8

Question 4 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q5/29:

The rise and fall in the production of goods measured by gross domestic product.&choe=UTF-8

Question 5 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q6/29:

Stage of the business cycle when unemployment is low, production of goods and services are high, and new businesses are opening.&choe=UTF-8

Question 6 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q7/29:

The United States experienced a _______ in 2008, largely contributed to the real-estate industry, among other causes. During this time economic activity slowed down and businesses laid off workers.&choe=UTF-8

Question 7 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q8/29:

During a depression this economic indicator would likely be high. It measures the number of people who are able and willing to work but cannot find work in a given period.&choe=UTF-8

Question 8 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q9/29:

Under conditions of this economic indicator prices rise over time and your dollar is worth less.&choe=UTF-8

Question 9 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q10/29:

This is what a business owns.&choe=UTF-8

Question 10 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q11/29:

Business, individuals, and governments make decisions about satisfying unlimited wants with limited resources by looking at?&choe=UTF-8

Question 11 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q12/29:

Water is an example of what factor of production?&choe=UTF-8

Question 12 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q13/29:

Besides businesses, who else plays a role in economic activity?&choe=UTF-8

Question 13 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q14/29:

This is what a businesses owes.&choe=UTF-8

Question 14 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q15/29:

The physical labor involved in making products describes which factor of production?&choe=UTF-8

Question 15 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q16/29:

Tangible items that are produced and sold to a consumer.&choe=UTF-8

Question 16 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q17/29:

These are crucial to the advancement and progression of our world.&choe=UTF-8

Question 17 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q18/29:

Materials or tools that are used to produce a good are considered what type of factor of production?&choe=UTF-8

Question 18 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q19/29:

Oprah Winfrey and Bill Gates are considered what type of factor of production&choe=UTF-8

Question 19 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q20/29:

This is the problem of trying to meet infinite wants with limited resources.&choe=UTF-8

Question 20 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q21/29:

Because ALL economic resources are scarce, every society must answer three questions:&choe=UTF-8

Question 21 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q22/29:

The law of ______ is when there is an inverse or negative relationship between the price of a good or service and the quantity demanded of that good or service.&choe=UTF-8

Question 22 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q23/29:

The law of _____ is when there is a direct (positive) relationship between the price of a good or service, and the quantity supplied of that good or service.&choe=UTF-8

Question 23 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q24/29:

_____ is when the quantity demanded is equal to the quantity supplied at a price that clears the market.&choe=UTF-8

Question 24 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q25/29:

This type of economy is a system that relies on customs and culture to guide economic decisions and they mostly rely on natural resources.&choe=UTF-8

Question 25 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q26/29:

An economic system that is controlled by the government is called?&choe=UTF-8

Question 26 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q27/29:

In this economic system, private businesses control production and profits.&choe=UTF-8

Question 27 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q28/29:

In this economic system, the government controls factors of production, but it’s owned by private businesses.&choe=UTF-8

Question 28 (of 29)

 



Economics Review: QR Challenge

https://www.classtools.net/QR/decode.php?text=Economics Review
Q29/29:

This economic indicator measures the degree of optimism about the state of the economy that consumers are expressing through their activities of saving and spending.&choe=UTF-8

Question 29 (of 29)