An Economic Look At
Charlie and the Chocolate Factory
Use the word bank, what you have learned in economics, and the video/DVD of Charlie and the Chocolate Factory to answer the following questions. The number next to the word indicates the times it can be used.
Advertising
candy bar
capital deepening
cocoa beans
Complements
Consumers
Contraction
creativity
cyclical
Decreased
Demand
Entitlements
Externalities
FDA
human capital
Import
income distribution
Increase (2)
Innovativeness
Japan
labor union
land
Left
Margin
Medicare
money
non-price
normal
opportunity cost
OSHA
Partnership
Patent
physical capital
poverty threshold
price
Right(2)
Risky investment
savings
Scarce
Shortage
sole proprietorship
Specialization
structural(2)
Supply
technology (2)
Traditional
U.S. Constitution
voluntary exchange
Wages
Welfare
Willy Wonka
1. Name an entrepreneur in the video. _____________________________________
2. What characteristic of an entrepreneur best fits your answer to # 1?___________
3. As a candy maker, this entrepreneur took land, labor and capital to ____________ chocolate bars to ___________________.
4. What was the Wonka Company creating when they held a contest? ___________
5. What input played an important part in getting consumers from all over the world interested in buying the chocolate bars? ___________
6. Which way has the demand curve for Wonka chocolate bars shifted because of the contest? __________
7. Keeping in mind the Buckett’s family income, what type of good would the purchase of Wonka Bars be as their income increased? __________________
8. What happened to the demand curve for Wonka Bars once all the Golden Tickets were found?_____________________________________
9. The toothpaste factory where Mr. Buckett works can not pay him more than the value he adds to the labor input of the product at the ___________________
10. The income Mr. Buckett brings home...