Xtra: Star Wars Economics (CE.11-14)

The Empire wants to control all of resources and make all of economic decisions for the galaxy. What type of economy does The Empire believe in?

• Command Economy

• Mixed Economy

• Free Market Economy

• Traditional Economy

Before it fell to The Empire, The Galactic Republic made some of the economic decisions, but allowed individuals and businesses to own resources and make decisions. What type of economy does this represent?

• Command Economy

• Mixed Economy

• Free Market Economy

• Traditional Economy

Luke Skywalker lives with his Uncle Owen and Aunt Beru on a moisture farm. Everyone in Uncle Owen’s family has always been a moisture farmer. What type of economy does this represent?

• Command Economy

• Mixed Economy

• Free Market Economy

• Traditional Economy

Han Solo and Chewbacca are smugglers who try to avoid all kinds of government involvement. They own resources and make decisions for themselves. What type of economy do Han and Chewie support?

• Command Economy

• Mixed Economy

• Free Market Economy

• Traditional Economy

There is a low supply, but high demand for quality bounty hunters like Boba Fett. How does this affect the prices Boba Fett can charge for his services?

• Higher prices

• Lower prices

There is a high supply of Jar Jar Binks action figures at the toy store, but a low demand for them. How does this affect the price of his action figures?

• Higher prices

• Lower prices

Luke Skywalker must decide between finishing his training with Yoda or going to help his friends. Against Yoda’s wishes, Luke decides to help his friends. What is his opportunity cost?

• Helping his friends

• Finishing his training

Han Solo needs money to pay a gambling debt. He runs an advertisement that says, “Droids ride free on the Millennium Falcon with a paying customer.” What is Han Solo offering to his customers?

• Warranty

• Incentives

• Opportunity Cost

After Emperor Palpatine gives Order 66 to the Clone Army almost all of the Jedi are destroyed? What economic term best describes the Jedi after Order 66?

• Scarcity

• Surplus

Wal-Mart only offers yellow Storm Trooper outfits for Halloween. Customers are very upset and no one buys them. Next year, Wal-Mart brings back the traditional white outfits to the delight of customers. What is the power of the buyer to influence economic decisions called?

• Consumer Sovereignty

• Command Economy

• Opportunity Cost