(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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Actual land/natural resources/ "T"
People Face trade offs
Land, Labor, & Capital
there is a short run tradeoff between inflation and unemployment
accounting cost opportunity cost
the value of the highest valued alternative to a decision
Workers/"L"
The Invisible Hand
Trade makes everyone better off
study of national/international level decisions
Country's standard of living depends on ability to produce
benefit of increasing an activity by 1 unit
the max level of what a country can produce with its factors of production
People respond to incentives
statement that can be verified as true
study of individual/firm level decisions
Prices increase when government prints more money
Government can sometimes improve market outcomes
$ amount paid
cost of increasing an activity by 1 unit
Hold all variables constant except the two of interest
statement about what ought to be
Economics
Experience/education of workers
Rational people think at the margin
Equipment used in production/ "K"
Markets are usually good ways to organize economic activity
