MonopolisticCompetitionMarket structurewhere there aremany producers,Similar productsBUT variety ispresent, littlecontrol over priceStakeholdersPerson with aninterest or concern insomething, especiallya business. typicallyinclude investors,employees, andcustomers.IncentivesThings thatchangeeconomicbehavior andchoicesMicroeconomicsThe branch ofeconomics that looksat studying thebehavior of anindividual economicunit such as individualconsumers,households, andbusinesses.Shortagewhen there isnot enough ortoo few goodsto meet thedemand of theconsumers.PartnershipForm of abusiness withtwo or moreowners whoshare the risksand profitCooperativeOrganization owned andoperated by people whouse its services; they aredesignated as members,or user-owners. Profitsand earnings aredistributed among themembers FranchiseBusiness wherebythe owner licensesits operations—along with itsproducts, branding,and knowledge—inexchange for a fee.PriceThe amountof moneyexchangedfor a good orserviceConsumerSovereigntyPeople determinethroughpurchases, whatgoods andservices will beproduced.Revenueanother wordfor INCOME-money thatis made fromsalesMonopolyMarket Structurewhere there arehigh barriers toenter, but totalcontrol over pricebecause there isonly one producerCorporationA type ofbusiness ownedby many peoplebut treated bylaw as though itwere a person.MarketCompetitionRivalry betweenproducers/sellers ofgoods or servicesresults in betterquality goods andservices at a lowerprice DemandAmount of agood or servicethat consumersare willing andable to buy at acertain priceSurplusWhen supplyis greaterthan thedemand fora productProfitEarningsafter allexpenseshave beenpaidPerfectCompetitionMarket Structurewhere there areMany producers,competition ishigh, but there areno/ few barriers toenterSoleProprietorUnincorporatedbusiness with onlyone owner whopays personalincome tax onprofits earned. OligopolyMarketstructure wherethere are fewproducers, Highbarriers to entryMarketAny place wheretwo or more partiescan meet to engagein an economictransaction(buying/selling ofgoods/services)EntrepreneurPerson who takes arisk to producegoods and servicesin search of profit-they combine theother factors ofproductionProducerPerson whocreates economicvalue, or MAKESgoods andprovides servicesConsumerPerson whobuys goodsor servicesfor their ownUSEEquilibriumThe economiccondition wheremarket demandand marketsupply are equalto each otherSupplyHow much of theproduct isavailable forpurchase at agiven price by abusiness orsupplier.MonopolisticCompetitionMarket structurewhere there aremany producers,Similar productsBUT variety ispresent, littlecontrol over priceStakeholdersPerson with aninterest or concern insomething, especiallya business. typicallyinclude investors,employees, andcustomers.IncentivesThings thatchangeeconomicbehavior andchoicesMicroeconomicsThe branch ofeconomics that looksat studying thebehavior of anindividual economicunit such as individualconsumers,households, andbusinesses.Shortagewhen there isnot enough ortoo few goodsto meet thedemand of theconsumers.PartnershipForm of abusiness withtwo or moreowners whoshare the risksand profitCooperativeOrganization owned andoperated by people whouse its services; they aredesignated as members,or user-owners. Profitsand earnings aredistributed among themembers FranchiseBusiness wherebythe owner licensesits operations—along with itsproducts, branding,and knowledge—inexchange for a fee.PriceThe amountof moneyexchangedfor a good orserviceConsumerSovereigntyPeople determinethroughpurchases, whatgoods andservices will beproduced.Revenueanother wordfor INCOME-money thatis made fromsalesMonopolyMarket Structurewhere there arehigh barriers toenter, but totalcontrol over pricebecause there isonly one producerCorporationA type ofbusiness ownedby many peoplebut treated bylaw as though itwere a person.MarketCompetitionRivalry betweenproducers/sellers ofgoods or servicesresults in betterquality goods andservices at a lowerprice DemandAmount of agood or servicethat consumersare willing andable to buy at acertain priceSurplusWhen supplyis greaterthan thedemand fora productProfitEarningsafter allexpenseshave beenpaidPerfectCompetitionMarket Structurewhere there areMany producers,competition ishigh, but there areno/ few barriers toenterSoleProprietorUnincorporatedbusiness with onlyone owner whopays personalincome tax onprofits earned. OligopolyMarketstructure wherethere are fewproducers, Highbarriers to entryMarketAny place wheretwo or more partiescan meet to engagein an economictransaction(buying/selling ofgoods/services)EntrepreneurPerson who takes arisk to producegoods and servicesin search of profit-they combine theother factors ofproductionProducerPerson whocreates economicvalue, or MAKESgoods andprovides servicesConsumerPerson whobuys goodsor servicesfor their ownUSEEquilibriumThe economiccondition wheremarket demandand marketsupply are equalto each otherSupplyHow much of theproduct isavailable forpurchase at agiven price by abusiness orsupplier.

Microeconomics! - Call List

(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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  1. Market structure where there are many producers, Similar products BUT variety is present, little control over price
    Monopolistic Competition
  2. Person with an interest or concern in something, especially a business. typically include investors, employees, and customers.
    Stakeholders
  3. Things that change economic behavior and choices
    Incentives
  4. The branch of economics that looks at studying the behavior of an individual economic unit such as individual consumers, households, and businesses.
    Microeconomics
  5. when there is not enough or too few goods to meet the demand of the consumers.
    Shortage
  6. Form of a business with two or more owners who share the risks and profit
    Partnership
  7. Organization owned and operated by people who use its services; they are designated as members, or user-owners. Profits and earnings are distributed among the members
    Cooperative
  8. Business whereby the owner licenses its operations—along with its products, branding, and knowledge—in exchange for a fee.
    Franchise
  9. The amount of money exchanged for a good or service
    Price
  10. People determine through purchases, what goods and services will be produced.
    Consumer Sovereignty
  11. another word for INCOME- money that is made from sales
    Revenue
  12. Market Structure where there are high barriers to enter, but total control over price because there is only one producer
    Monopoly
  13. A type of business owned by many people but treated by law as though it were a person.
    Corporation
  14. Rivalry between producers/sellers of goods or services results in better quality goods and services at a lower price
    Market Competition
  15. Amount of a good or service that consumers are willing and able to buy at a certain price
    Demand
  16. When supply is greater than the demand for a product
    Surplus
  17. Earnings after all expenses have been paid
    Profit
  18. Market Structure where there are Many producers, competition is high, but there are no/ few barriers to enter
    Perfect Competition
  19. Unincorporated business with only one owner who pays personal income tax on profits earned.
    Sole Proprietor
  20. Market structure where there are few producers, High barriers to entry
    Oligopoly
  21. Any place where two or more parties can meet to engage in an economic transaction (buying/selling of goods/services)
    Market
  22. Person who takes a risk to produce goods and services in search of profit- they combine the other factors of production
    Entrepreneur
  23. Person who creates economic value, or MAKES goods and provides services
    Producer
  24. Person who buys goods or services for their own USE
    Consumer
  25. The economic condition where market demand and market supply are equal to each other
    Equilibrium
  26. How much of the product is available for purchase at a given price by a business or supplier.
    Supply