1. Arrange students into groups. Each group needs at least ONE person who has a mobile device.
2. If their phone camera doesn't automatically detect and decode QR codes, ask students to
4. Cut them out and place them around your class / school.
1. Give each group a clipboard and a piece of paper so they can write down the decoded questions and their answers to them.
2. Explain to the students that the codes are hidden around the school. Each team will get ONE point for each question they correctly decode and copy down onto their sheet, and a further TWO points if they can then provide the correct answer and write this down underneath the question.
3. Away they go! The winner is the first team to return with the most correct answers in the time available. This could be within a lesson, or during a lunchbreak, or even over several days!
4. A detailed case study in how to set up a successful QR Scavenger Hunt using this tool can be found here.
Question | Answer |
| 1. Define allocative efficiency | Allocative efficiency exists where when the sum of consumer and producer surpluses are maximized. | 2. At which point of the demand and supply model is the point of allocative efficiency? | At the equilibrium point. | 3. Define consumer surplus | The difference between what consumers are willing to pay and the price they actually pay. | 4. Define producer surplus | The difference between the price producers are willing to receive and the price they actually receive. | 5. Define deadweight loss | The DWL represents the loss of consumer and producer surplus (welfare) that is not gained by another party. | 6. Define subsidy | A subsidy is a payment by the government to producers to reduce their costs of production. | 7. Another name for a maximum price? | price ceiling | 8. Another name for a minimum price? | price floor | 9. What are the four non-price factors that cause the demand curve to shift? | TICS | 10. What are the non-price factors that cause the supply curve to shift? | PETROLCC (political, environmental, technology/productivity, restrictions on trade, other related goods, legal, cost of production, cultural. | 11. Define tariff | A tax on imports. | 12. What is a direct tax? | A tax on income. | 13. Trade between countries without government intervention is called? | free trade | 14. Define exports | Goods produced domestically which are sold to the overseas market | 15. What does GDP stand for? | Gross Domestic Product | 16. What's the term when individuals, groups and producers rely on each other to provide what they cannot provide for themselves? | interdependence | 17. Where quantity supplied by producers equals quantity demanded by consumers is termed.... | market equilibrium | 18. What are demerit goods? | Goods considered to be harmful to the consumer when consumed. | 19. Explain elastic Price Elasticity of Demand? | When a change in price leads to a more than proportional change in the quantity demanded. | 20. Explain inelastic Price elasticity of Demand? | When a change in price leads to a less than proportional change in the quantity demanded. |
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