Global Economics Review Notes

Editing Directions

• This is a READ ONLY Google Slide Presentation. You need to MAKE YOUR OWN COPY of this slideshow so you can edit it and create your own Jeopardy game.
• To make your own copy, first be sure to be logged into your Google account, then click “File” and “Make a copy…” in the menu above.
• Once you have your own copy of the slideshow you can now make your changes.
• Edit the title slide as needed to name your Jeopardy game.
• On the “Jeopardy Board” slide, replace the generic topic headings with your real topics. Reduce the font size if needed to fit your topic text to the box.
• On each “Question” and “Answer” slide, simply type in your question and answer text to replace the placeholder text in the middle of the slide.
• Everything is already hyperlinked to go to the correct slides, so no links need to be added.
• All other text and items on each slide are linked back to that same slide so the user will not accidentally move to the next slide.
• Delete this slide when done creating your Jeopardy game.

Jeopardy Board

• The Jeopardy board includes the following categories:
  • Global Companies
  • Prices & Money
  • Trade Talk
  • Imports, Exports & More
  • Supply Chain/Macro
• Each category has questions worth 100, 200, 300, 400, and 500.
• There is also a Final Jeopardy question.

Global Companies

• $100 Question: DEFINE MNC
  • Answer: A company that has multiple offices and FDIs globally.
• $200 Question: This U.S. based company has multiple offices around the world specializing in food and beverage, and is famously known for its locally adapted products.
  • Answer: Starbucks.
• $300 Question: This is when a company builds a factory or buys property in another country.
  • Answer: Foreign Direct Investment.
• $400 Question: Explain why countries and companies invest in economically developing countries
  • Answer: Lower tax rates, cheaper production costs.
• $500 Question: Outline one benefit and one limitation of investing in developing countries.
  • Answer: 1. Names the pro/con 2. Provides an example 3. Explains examples

Prices & Money

• $100 Question: The general rise in price overtime.
  • Answer: What is inflation?
• $200 Question: A very fast or extreme increase in prices.
  • Answer: What is hyperinflation?
• $300 Question: The cost of borrowing money
  • Answer: Interest Rates
• $400 Question: 1 yen = 0.0069 What concept is this? And name the example?
  • Answer: Exchange Rate: Dollar to yen
• $500 Question: EXPLAIN A MAJOR CAUSE OF ZIMBABWE'S HYPERINFLATION
  • Answer:
    • Zimbabwe printed more money.
    • Printing more money increases the supply.
    • More money means more demand
    • Goods get more expensive
    • The value of money reduces

Trade Talk

• $100 Question: An agreement between countries to make trade easier.
  • Answer: What is trade agreement
• $200 Question: This trade deal includes the U.S., Mexico, and Canada
  • Answer: USMCA
• $300 Question: Government provides money to support production of a good/service
  • Answer: Subsidy
• $400 Question: Define Trade Barriers
  • Answer: Reduce the opportunity to trade due to conflict and strategic decisions.
• $500 Question: Evaluate the use of free trade. Give 2 pros and 2 cons
  • Answer: Pro Given Example Explain Con given Example Explain

Imports, Exports & More

• $100 Question: Buying goods from another country.
  • Answer: What are imports?
• $200 Question: Selling your country's goods abroad.
  • Answer: Exports?
• $300 Question: Match Money Outflow/Inflow with Export/Import. Which goes with which.
  • Answer:
    • Money Inflow: Money coming in. Exports are what countries sell so they are making money
    • Money Outflow: Money going out. Imports is when countries buy meaning they spend
• $400 Question: Differentiate between trade surplus vs deficit
  • Answer:
    • A country exports more than it imports.
    • A country imports more than it exports
• $500 Question: Outline two ways a country can limit exports and imports
  • Answer: Tariffs and Quotas: A tax on a good/service Limiting the number of goods and services Example: 5% tax on Japan. Limiting the number of cars.

Supply Chain/Macro

• $100 Question: This measures the value of all goods and services in a country.
  • Answer: What is G.D.P
• $200 Question: The D in the GDP
  • Answer: Domestic
• $300 Question: The question asked when a company/country decides to create a product.
  • Answer: What is produce?
• $400 Question: Answer the 3 economic questions for Canadian Academy
  • Answer: For Whom to produce?
• $500 Question: Explain the full supply chain for Gong Cha (Bubble Tea). (Full 500 if you can mention locations)
  • Answer:
    • Raw Materials: Brazil - Tea Leaves Tapioca Starch
    • Supplier: India, Taiwan
    • Manufacturer China - Bubble Tea packs
    • Distributor International and local wholesalers (US, China, others)
    • Retailer Bubble Tea Shop (Any country that has a Gong-Cha
    • Consumer Bubble Tea shoppers/loyalists (Canada, US, Japan, China, e.t.c)

Final Jeopardy!

• Topic: Cost of Production
• Question: Evaluate the impact of technology on the cost of production with real life examples Hint: Evaluate is pros, cons, judgment. Use the example of milk and cows.
  • Answer:
    • Pros: Efficiency: Cows hooked up into electronic milkers Devices to check performance of cows
    • Cons: Jobs are eliminated. No need for milk farmers Costly: can be expensive to implement
    • Groups Opinion. We believe that countries should/should not invest in technology