Jeopardy Final Jeopardy Costs Wild Card $100 $100 $100 $100 $100 $200 Business Firms Costs Market Structure Labor Unions Wild Card $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500 Final Jeopardy

1 - $100 Name two traits of a sole proprietorship Owned by 1 person, this person makes all decisions, and this person is responsible for all debts

1 - $200 This type of firm is owned by more than one person and has limited liability Partnerships

1 - $300 The person who makes a deal of GIVING a franchise Franchisor

1 - $400 This type of firm conducts business in its own name Corporations

1 - $500 Explain limited liability and how it relates to assets Type answer to appear with a mouse-click here

2 - $100 A sum of fixed and variable costs Total Costs

2 - $200 Examples: Rent, Flat Tax, and Insurance prices Fixed cost

2 - $300 Give 3 examples of variable costs Answers could include: Shipping, Repairs, Raw materials, amount of inventory, décor for a business.

2 - $400 How do you find Marginal Costs? Change in total cost/Change in quantity

2 - $500 How do you find if you had a profit or a loss Subtracting total cost from total revenue

3 - $100 Name 2 traits of a monopoly One seller, no close substitutes, High barriers to entry, or high price control

3 - $200 This type of market structure that is classified by identical goods Perfectly competitive

3 - $300 This structure is classified by having a few sellers. Oligopoly

3 - $400 Give an example of monopolistic competitive markets Fast food, clothing, airlines, bus travel.

3 - $500 Type question to appear here Type answer to appear with a mouse-click here

4 - $100 A group of collective voices for workers rights A union

4 - $200 Give an example of government regulation in the workplace? Fire extinguishers, sprinklers, fire escape plans must be practiced, basic cleanliness, and doors that open outward

4 - $300 If compromises cannot be reached between unions and employers what could happen Strike

4 - $400 Why might a union be more successful then one or two workers asking for change Shows collective agreement among workers, workers could be fired, or it seems to have a stronger backing

4 - $500 Give 2 examples of careers that might be in a union Teachers, construction workers, lawyers, for the most part many careers that have many workers earning wages.

5 - $100 Name 1 of the 2 factors of productivity Demand for your service, your own productivity

5 - $200 Explain why perfectly competitive markets have to make minimal profits. With such high competition and easy exit, if a company increased a product cost for something that people can get elsewhere, people will find a substitute

5 - $300 Give 2 examples of nonmoney benefits Vacation, job satisfaction, good work relationships, productive bosses, mental health days, etc.

5 - $400 Marginal Revenue= Change in total revenue/ total output sold

5 - $500 Explain the role of anti-trust laws Increase competition, help small businesses, curve monopolies.

Final Jeopardy Type question to appear here Type answer to appear with a mouse-click here