Chapter 3 Review Hosted by Mrs. Piotrowski Jeopardy Chapter 3 Review Hosted by Mrs. Piotrowski

Economy 1 Economy 2 Economy 3 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500

What are the 4 forms of economic competition called? Monopoly, Oligopoly, Monopolistic, Pure Competition Row 1, Col 1

What type of economic competition are most retailers involved in? Monopolistic Competition Row 2, Col 1

What economic competition has Many suppliers that offer very similar products? Pure Competition Row 3, Col 1

Monopolistic Competition What type of economic competition is when many firms compete with products that are somewhat different? Monopolistic Competition Row 4, Col 1

  What economic competition has a few businesses that offer very similar products or services called and give an example Oligopoly - airlines Row 5, Col 1

What is the amount of satisfaction a consumer receives from the consumption of a particular product called? Economic Utility Row 1, Col 2

Form, time, place and possession What are the four types of economic utility? Form, time, place and possession Row 2, Col 2

What sport did Mrs. Piotrowski play AND what position? Daily Double Decide on your wager, and have the team captain tell Mrs. P. What sport did Mrs. Piotrowski play AND what position? Softball - outfield

List two examples of form utility Answers will vary Row 3, Col 2

List an example of time and place utility Answers will vary Row 5, Col 2

This results from changes in the tangible parts of a product or service Form utility Row 1, Col 3

This results from changing the affordability of the product or service Possession utility Row 1, Col 4

List two characteristics that are important to determine the type of economic competition The number of firms competing in the market. The amount of similarity between the products of competing businesses. Row 2, Col 4

What school does Mrs. Piotrowski’s Daily Double Decide on your wager, and have the team captain tell Mrs. P. What school does Mrs. Piotrowski’s son go to? St. Francis High School

She didn’t step up to the plate and lead In the episode of the Apprentice, why did Kristi get fired? She didn’t step up to the plate and lead Row 4, Col 4