$1001 When customers buy the exact amount of goods that producers are supplying. This is called the _________ price. -Back- -Back-

$2002 Video game consoles such as the X-box One are most likely to have this type of demand -Back--Back-

$3003 If aggregate demand is rising, businesses from industries will tend to _________ production Increase / Decrease -Back- -Back-

$4004 After a mild, dry winter, the amount of snowboards a ski shop has on hand should be in high_________ therefore the causing the price to decrease -Back- -Back-

$5005 Even though gasoline prices increased 15 cents per gallon as the result of the new gas tax, Alice continued to buy gas so she could make her 20 mile drive to work. This is an example of what type of demand? -Back--Back-

$1006 The most common medium of exchange in modern economic systems is -Back- -Back-

$2007 Government owns the basic means of production, but there is some private ownership of businesses under a __________system -Back- -Back-

$3008 China and North Korea currently operates under what type of economic system -Back- -Back-

$4009 What type of economic system is used in the United States -Back- -Back-

$50010 The absence of growth and progress is the major problem of a economic system -Back- -Back-

$10011 Wants can be divided into the two categories of __________ and ________________. -Back- -Back-

$20012 This government policy sets levels of government spending and taxation. -Back- -Back-

$30013 Government financial help or tax breaks given to a specific business are called -Back--Back-

$40014 When customers buy or demand the exact amount of goods that producers are selling, this price exists -Back--Back-

$50015 The gap between unlimited wants and limited resources creates a condition known as -Back- -Back-

$10016 The study of how to meet unlimited wants with limited resources is -Back--Back-

$20017 Buildings and equipment are considered this type of resource -Back--Back-

$30018 A nation that exports more than it imports maintains a -Back- -Back-

$40019 A union made up of all types of workers employed within an industry is called a (n) _______union. -Back- -Back-

$50020 New employees hired to replace employees who are striking are called -Back- -Back-

$20021 What technique is Boeing using to combat the disadvantages of labor specialization when it expands an employee’s job tasks to include other similar tasks? -Back- -Back-

$40022 A tax levied by a government on imports -Back- -Back-

$60023 As a management trainee in a large business, Ron spends three weeks working in each of the various departments. This is an example of job -Back- -Back-

$80024 A worker who places stamps on outgoing mail is performing a job which has________ depth and ________scope -Back- -Back-

$ A nation has this if they can produce an entire product for less than another nation -Back- -Back-

$20026 If the contraction phase of the business cycle lasts more than six months, it is called a(n) -Back- -Back-

$40027 The economy of Greece is undergoing rapid changes. Unemployment is going down, consumer spending is high, and factories are increasing their production capabilities. Greece is in the _______ phase of the business cycle. -Back- -Back-

$60028 A business manager realizes the demand for his products now exceeds producers’ capabilities, and producers have raised their prices to offset the high demand. Under these conditions, what phase of the business cycle should the manager begin to prepare for? -Back- -Back-

$80029 When there are high levels of unemployment and business failures, the business cycle is in its ______ phase -Back- -Back-

$ The period of time on a business cycle when an economy has surpassed its previous peak is called -Back- -Back-

$20031 Members of the local 654 refused to buy products made by their company. This union strategy is known as -Back- -Back-

$40032 When a union requires more employees than needed to complete a job, the union is doing this -Back- -Back-

$60033 The court issued a___________ forcing the teachers from the Marysville School District to go back to work. -Back- -Back-

$80034 Officials from the local union and the Kroger Corporation are meeting next week to determine the terms and conditions that will be provided to the employees next contract. This process is known as -Back- -Back-

$ A technique used when the business owners close down the business and forbid the workers to work. -Back- -Back-

$20036 In economic terms, “Mr. Barnes has brought several rental properties. The money Mr. Barnes spent to buy these buildings would be included in this category of GDP” -Back- -Back-

$40037 In economic terms, “A country’s gross domestic product is expressed in this format” -Back- -Back-

$60038 In economic terms: As a favor, Katie agreed to wash her grandmother’s car each month for free. In terms of GDP, the work Katie does would be part of. -Back- -Back-

$80039 In economic terms: George agreed to paint Joe’s car for him and asked to be paid in cash so there would be no record of the transaction. The money George earned is part of -Back- -Back-

$ In economic terms, A country’s net exports are a minus figure in GDP calculations whenever this happens -Back- -Back-

41 Channels of Distribution Marketing Strategies Marketing Functions What’s Marketing st RD Back Go to 2 nd RD Its all about Supply & Demand My Economic System World of Economics Economics Misc

42 Channels of Distribution Marketing Strategies Marketing Functions What’s Marketing nd RD back rd 1 GO to Final JeopardySpecializedTrading Cycle Through Call the Union GDP “In Economic Terms” G

43 Start

Final Jeopardy44 Final Jeopardy Final Jeopardy Wager Wager

45 Question: John’s father receives veterans’ benefits, and his grandmother gets Social Security. Are these payments counted in GDP? Why or why not? -Use terms & Be specific-