JEOPARDY Economics
Categories Money Movement The Federal Reserve Taxing and Spending Govt. in Economics Banks Global Economies
Final Jeopardy Trade Make your wager
What are to get things we cant produce ourselves, because the costs of production are lower, to sell things to other countries, and to create jobs? Name at least 3 of the 4 reasons why nations trade.
What is a wave? The business cycle (how our economy moves) is in this pattern.
What is a recession? Name given to our economy when it is getting worse.
What is the resource market? In Economic Flow, this is the name of the market where someone provides labor to a business, and they get paid for their labor.
Daily Double Dont Choke!
What is Circular Flow Economic Flow can also be called this because of the way our money moves
In Economic Flow, this is the type of market where someone pays a bill to a business in return for the item they purchased. What is the product market?
Printing more money than what our economy can support can cause this problem. What is inflation?
Name the two groups who can get money from the Federal Reserve. Who are banks and the government?
What could the Federal Reserve do to the discount rate if they wanted to slow the economy? What is raise the discount rate?
The amount of money circulating through our economy may _________ if the Federal Reserve lowered the discount rate. What is increase?
If the U.S experienced a major recession, the Federal Reserve may begin to do what to government securities (savings bonds) What is purchase them?
The amendment that created the Federal Income Tax. What is the 16th?
These are provided to many people and are paid for by the government. What are public goods and services?
If the government _______ borrowing, the amount of money people could borrow may increase What is decrease?
This is what the government would do to spending to stimulate the economy. What is increase?
Taxes may ________ if government spending increases. What is increase
Money paid on savings accounts as a reward for keeping your money with them. What is interest?
Banks, Savings and Loans, Credit Unions, and are the three types of ________________. What are financial institutions?
The Central Bank of the United States. What is the Federal Reserve?
The three types of currency. What is Federal Reserve Notes, Checks and Debit and Coins?
This type of financial institution has member owners and offers better interest rates. What are Credit Unions?
This government agency regulates pollution emissions. What is the Environmental Protection Agency?
If E. Coli is found in peanut butter, the government will order one of these on the product. What is a recall?
This government agency regulates the media. What is the Federal Communications Commission?
The U.S. government supports the formation of ___________ to encourage competition. What are new businesses?
The government agency that regulates business. What is the Federal Trade Commission
What type of trade does the U.S participate in? What is global trade?
This has contributed to the faster flow of information, capital, and goods and services worldwide. What is technology?
What is specialization? Virginia is good at producing tobacco better than other things, this is known as ___________.
What is lowered? The costs of production are _________ when technology is used.
Daily Double Dont Choke!
What is anti-trust legislation? The type of law made to stop the formation of monopolies.