Economics JeopardyTypes of

Economies & basic terms

Supply & Demand

Competition, Business, &

Labor

Stocks & Saving Economic Indicators

10 10 10 10 10

20 20 20 20 20

30 30 30 30 30

40 40 40 40 40

50 50 50 50 50

10 pointsDefine “economics.”

20 pointsThis basic problem of economics is caused by combining our unlimited demand for our wants and needs with what else?

30 pointsWhen you put a value on an object, what will help determine the value the least?

A. Usefulness of the objectB. Scarcity of the objectC. Smell of the object

40 pointsWhat name is applied to the US capitalist economy?

50 pointsWhat man predicted in “The Communist Manifesto” that at some point, the poor would rise above the rich and take what they have and give it to everyone, creating a new type of economy?

10 pointsAccording to the Law of Demand, when demand increases, what will happen to prices for goods demanded?

20 pointsIn a supply curve or a demand curve, what shift will occur when there is a decrease in either supply or demand?

30 pointsA Ford F150 pickup truck and 4 Firestone tires would be what type of goods?

Complementary or substitute?

40 pointsLooking at the curve on the board, how big will a surplus be for pizza, if $13 is charged?

Daily Double

If you were to study your business to decide how many workers you should hire, what would the name of the “study” or analysis be?

10 pointsWhen there is no competition for a business and there is no sign that any business could grow to compete, you will see the rise of this.

20 pointsCrystal Genaux finds that she is not able to purchase a soda anywhere in town. No business will sell her one even if she offers far more money than the soda is worth. These community businesses are doing what illegal activity?

30 pointsIf Nintendo were to merge their videogame business with GameStop stores, what type of merger would this be?

40 pointsWhen a labor union is actively negotiating a contract for all employees with a business/employer, what is the union doing?

50 pointsIt is illegal for teacher unions to strike to the point where school cannot be completed by June 30th. Therefore, judges often put an end to teacher strikes by filing what?

10 pointsWhen the Dow Jones Ind. Average is consistently going down over a period of time, what type of market are we in?

20 pointsAt what point are you allowed to turn in a savings bond for full value?

30 pointsA 401k and an IRA are these types of plan that most professional Americans have.

40 pointsIn the US stock markets, most newer, smaller, or weaker companies are sold in this “acronymic” stock exchange.

50 pointsIf you owned 500 shares of a stock and it split 2 different times, how many shares will you own after both splits?

10 pointsWhen the Federal Reserve puts this monetary policy in place, they are attempting to slow down consumer spending and stop inflation.

20 pointsWhen the government gives tax breaks to richer business owners with the intent that they will spend their savings on their businesses, what is the type of tax policy they’d be putting in place?

30 pointsWhen inflation is becoming an issue, what will the Federal Reserve often do to interest rates?

40 pointsIn order for the US to officially enter a recession, what number or statistic MUST go down for at least 2 business quarters?

50 pointsC+I+G+X-M=GDP

Why do you subtract “M”?