Jeopardy Q$100 Q$100 Q$100 Q$100 Q$100 Q$200 Q$200 Q$200 Q$200 Q$200 Economies T/F T/F Terms Measure Q$100 Q$100 Q$100 Q$100 Q$100 Q$200 Q$200 Q$200 Q$200 Q$200 Q$300 Q$300 Q$300 Q$300 Q$300 Q$400 Q$400 Q$400 Q$400 Q$400 Q$500 Q$500 Q$500 Q$500 Q$500 Final Jeopardy

$100 Question from True/False A compact disc player is an example of a need—True or False?

$100 Answer from True/False What is False.

$200 Question from True/False Tangible products you can purchase to meet your wants and needs are called goods—True or False?

$200 Answer from True/False What is True.

$300 Question from True/False When you decide to buy a jacket instead of a concert ticket, you are making a tradeoff—True or False?

$300 Answer from True/False What is True.

$400 Question from True/False A period in which unemployment begins to rise, demand begins to decrease and businesses lower production is called recovery—True or False?

$400 Answer to True/False What is False.

$500 Question from True/False The market price for a product is the point where demand is greater than supply—True or False?

$500 Answer to True/False What is False.

$100 Question from True/False In the early 1890s, the average employee in the United States worked about 60 hours per week—True or False?

$100 Answer from True/False What is True.

$200 Question from True/False Dividing GDP by the total population of a country results in that country’s GDP per capita—True or False?

$200 Answer from True/False What is True.

$300 Question from True/False The basic economic problem is having unlimited wants and needs but limited economic resources—True or False?

$300 Answer from True/False What is True.

$400 Question from True/False Water, air and minerals are examples of capital resources—True or False?

$400 Answer to True/False What is False.

$500 Question from True/False Movement of the economy from one condition to another is called the business cycle—True or False?

$500 Answer to True/False What is True.

$100 Question from Economies Resources are owned and controlled by the people of the country.

$100 Answer from Economies What is a market economy?

$200 Question from Economies The government decides what and how goods are produced.

$200 Answer from Economies What is a command economy?

$300 Question from Economies Workers often use hand tools and readily available natural resources.

$300 Answer from Economies What is a traditional economy?

$400 Question from Economies A system that combines market, traditional and command economies.

$400 Answer to Economies What is a mixed economy?

$500 Question from Economies Capitalism, private enterprise and free enterprise are other names for this economic system.

What is a market economy? $500 Answer to Economies What is a market economy?

A nation’s plan for answering the three economic questions. $100 Question from Terms A nation’s plan for answering the three economic questions.

What is the economic system? $100 Answer from Terms What is the economic system?

Businesses that offer very similar products to the same customers. $200 Question from Terms Businesses that offer very similar products to the same customers.

$200 Answer from Terms Who are competitors?

A person who buys and uses goods and services. $300 Question from Terms A person who buys and uses goods and services.

$300 Answer from Terms Who is a consumer?

When the government spends more than it takes in. $400 Question from Terms When the government spends more than it takes in.

What is a budget deficit? $400 Answer to Terms What is a budget deficit?

$500 Question from Terms Money spent by a business for an item (such as land, buildings or equipment) that will be used over a long period.

What is capital spending or capital projects? $500 Answer to Terms What is capital spending or capital projects?

$100 Question from Measure Compares the prices of a group of selected items each year to some earlier year.

What is the CPI (Consumer Price Index)? $100 Answer from Measure What is the CPI (Consumer Price Index)?

$200 Question from Measure The total dollar value of all final goods and services produced each year in a country.

What is the GDP (Gross Domestic Product)? $200 Answer from Measure What is the GDP (Gross Domestic Product)?

$300 Question from Measure Monthly measure of the sales of durable and nondurable goods bought by consumers.

$300 Answer from Measure What is retail sales?

$400 Question from Measure Refers to salaries and wages as well as investment income and government payments to individuals.

What is personal income? $400 Answer to Measure What is personal income?

$500 Question from Measure The percentage of people in the labor force who are willing to work, are looking for work but are unable to find work.

What is the unemployment rate? $500 Answer to Measure What is the unemployment rate?

Final Jeopardy Question In the United States…the age when a person is considered to be part of the labor force.

Final Jeopardy Answer What is 16?