Directions to create Jeopardy Game Open template Save As (whatever title you choose) File open Type in categories by clicking on the text box Use the scroll bar to scroll to the Question & Answer slides Create a question to fit in each valued box for each category Directions to play Jeopardy Slide show--view show Click mouse until Jeopardy music plays Slowly click categories onto the screen Wait until the music stops playing Cave students select questions in a specific category and for a specific dollar amount Click on the selected question Click mouse again to view the answer Click on the icon head in the bottom left hand corner to return to the main menu board

Economics Unit 1 Review Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy

$100 Question from C1 What do we call the tradeoff between military and consumer goods?

$100 Answer from C1 Guns or Butter

$200 Question from C1 This represents the maximum possible output for an economy

$200 Answer from C1 Production Possibilities frontier

$300 Question from C1 Unlimited wants and needs; limited resources

$300 Answer from C1 Scarcity

$400 Question from C1 List the two things that could cause a production possibilities frontier to shift to the right

$400 Answer from C1 New Technology More productive resources (land, Labor, capital)

$500 Question from C1 The study of how people use limited resources to meet wants and needs

$500 Answer from C1 Economics

$100 Question from C2 Why are resources scarce?

$100 Answer from C2 There is always a greater demand (need) for them than there is a supply

$200 Question from C2 List 4 basic principles of free enterprise

$200 Answer from C2 Profit motive, legal equality, Private property rights, free contract, Open opportunity, voluntary exchange, Competition (pick 4)

$300 Question from C2 List all three basic factors of production

$300 Answer from C2 Land, labor, capital

$400 Question from C2 The next best alternative to the choice you made

$400 Answer from C2 Opportunity Cost

$500 Question from C2 People who put together land, labor, and capital to create new business

$500 Answer from C2 Entrepreneurs

$100 Question from C3 Richard runs a burger joint. He invents a robotic machine that can make hamburgers; now his business can make more hamburgers than ever. This is an example of growth caused by…

$100 Answer from C3 Technology

$200 Question from C3 Metal ores, gas, water, and soil for farming are all examples of which factor of production?

$200 Answer from C3 Land

$300 Question from C3 Skills and knowledge

$300 Answer from C3 Human Capital

$400 Question from C3 The two goals that are difficult to achieve in a free market system

$400 Answer from C3 1)Equality 2)Stability/Security

$500 Question from C3 One way that the government in a free enterprise system can promote innovation

$500 Answer from C3 1)Patents 2)Government-funded Research and development.

$100 Question from C4 The motivating force in a free-market system

$100 Answer from C4 Self-interest

$200 Question from C4 The regulating force in the free market system

$200 Answer from C4 Competition

$300 Question from C4 The circular flow model in a mixed economy shows the relationship between…

$300 Answer from C4 Households, Firms, And the government

$400 Question from C4 The three main goals of a government when it wants to keep its economy running smoothly

$400 Answer from C4 1)High Employment 2)Steady Growth 3)Stable Prices

$500 Question from C4 Coined by Adam Smith, this term describes the way that self-interest and competition work to regulate the economy in a free market.

$500 Answer from C4 The Invisible Hand

$100 Question from C5 The struggle between firms to win a customer’s business is called this

$100 Answer from C5 Competition

$200 Question from C5 Making a decision about adding or subtracting one more unit is called…

$200 Answer from C5 Thinking at the margin

$300 Question from C5 The word for an economy using all of its productive resources to make as many goods and services as it possibly can

$300 Answer from C5 Efficiency

$400 Question from C5 The purpose of a free- enterprise system

$400 Answer from C5 Freedom for consumers and producers

$500 Question from C5 Delivery truck drivers go on strike. As a result, there is a lack of soda available. This is an example of…

$500 Answer from C5 Shortage

Final Jeopardy There are limited amounts of water available for watering one crop because it is needed for other crops. This is an example of what…

Final Jeopardy Answer Scarcity