SocialCosts 1950sand1960sWealthNon-functioninggovernments FalseBasicNeeds SpainNorthKoreato makethe poorbetter off Former ofSoviet Union,China, NorthKorea, andCuba healthcareIsraelLessfinancialincentive forinnovationThe marketencouragesexternalities soit can’t solvethe problemOutputandpricinglevelsPrivateownership NASAfinding amiddle groundthroughmarketsocialismFourRightsPublicownership ofthe means ofproductionKarlMarxexploring therelationshipbetweensocialism andeconomicefficiency. PensionTrue“Nudge”byRichardThaler.the moresophisticatedour governmentinstitutionsneed to becentral planningboard mimicsmarket forcesby adjustingpricessocialism andeconomicefficiency areincompatiblepresentinga nuancedperspectiveadjustingprices toefficientlyallocateresourcesThecollapse ofthe SovietUnionMore equitabledistribution ofgoods andservices, lesspressure tomaximize profitIndividuals whoactually need alarger vehicle(truck) will beaffected. low-incomeworkers, facedwith inequality,would inevitablyrevolt againstthe wealthy bureaucraticissuesFriedrichEngles False$28milliondollars middle groundbeyond the usualcategorization ofeconomic systemsinto capitalism andsocialismTrueSystem in whichthere is collectiveownership of themeans of production,central planning, anda broad emphasis onequalityreconsiderationof economicsystemsFreeridersNorwayThe social cost:bigger carsproduce moreemissions, biggercars are a risk todrivers in smallercars.Collectiveownership ofthe means ofproductionprovides amechanism forefficient resourceallocation withoutrelying on privateownership. SocialCosts 1950sand1960sWealthNon-functioninggovernments FalseBasicNeeds SpainNorthKoreato makethe poorbetter off Former ofSoviet Union,China, NorthKorea, andCuba healthcareIsraelLessfinancialincentive forinnovationThe marketencouragesexternalities soit can’t solvethe problemOutputandpricinglevelsPrivateownership NASAfinding amiddle groundthroughmarketsocialismFourRightsPublicownership ofthe means ofproductionKarlMarxexploring therelationshipbetweensocialism andeconomicefficiency. PensionTrue“Nudge”byRichardThaler.the moresophisticatedour governmentinstitutionsneed to becentral planningboard mimicsmarket forcesby adjustingpricessocialism andeconomicefficiency areincompatiblepresentinga nuancedperspectiveadjustingprices toefficientlyallocateresourcesThecollapse ofthe SovietUnionMore equitabledistribution ofgoods andservices, lesspressure tomaximize profitIndividuals whoactually need alarger vehicle(truck) will beaffected. low-incomeworkers, facedwith inequality,would inevitablyrevolt againstthe wealthy bureaucraticissuesFriedrichEngles False$28milliondollars middle groundbeyond the usualcategorization ofeconomic systemsinto capitalism andsocialismTrueSystem in whichthere is collectiveownership of themeans of production,central planning, anda broad emphasis onequalityreconsiderationof economicsystemsFreeridersNorwayThe social cost:bigger carsproduce moreemissions, biggercars are a risk todrivers in smallercars.Collectiveownership ofthe means ofproductionprovides amechanism forefficient resourceallocation withoutrelying on privateownership. 

Week 3 Bingo - 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. Social Costs
  2. 1950s and 1960s
  3. Wealth
  4. Non-functioning governments
  5. False
  6. Basic Needs
  7. Spain
  8. North Korea
  9. to make the poor better off
  10. Former of Soviet Union, China, North Korea, and Cuba
  11. healthcare
  12. Israel
  13. Less financial incentive for innovation
  14. The market encourages externalities so it can’t solve the problem
  15. Output and pricing levels
  16. Private ownership
  17. NASA
  18. finding a middle ground through market socialism
  19. Four
  20. Rights
  21. Public ownership of the means of production
  22. Karl Marx
  23. exploring the relationship between socialism and economic efficiency.
  24. Pension
  25. True
  26. “Nudge” by Richard Thaler.
  27. the more sophisticated our government institutions need to be
  28. central planning board mimics market forces by adjusting prices
  29. socialism and economic efficiency are incompatible
  30. presenting a nuanced perspective
  31. adjusting prices to efficiently allocate resources
  32. The collapse of the Soviet Union
  33. More equitable distribution of goods and services, less pressure to maximize profit
  34. Individuals who actually need a larger vehicle (truck) will be affected.
  35. low-income workers, faced with inequality, would inevitably revolt against the wealthy
  36. bureaucratic issues
  37. Friedrich Engles
  38. False
  39. $28 million dollars
  40. middle ground beyond the usual categorization of economic systems into capitalism and socialism
  41. True
  42. System in which there is collective ownership of the means of production, central planning, and a broad emphasis on equality
  43. reconsideration of economic systems
  44. Free riders
  45. Norway
  46. The social cost: bigger cars produce more emissions, bigger cars are a risk to drivers in smaller cars.
  47. Collective ownership of the means of production
  48. provides a mechanism for efficient resource allocation without relying on private ownership.