Economics Review Jeopardy Marketing/ Distribution Business Organizations /Competition Money, Banking, and the Fed Credit and Debt 2nd Half Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy

$100 Question from Marketing/Distribution What is the purpose of marketing?

$100 Answer from Marketing/Distribution Convince consumers that a product will add to their utility.

$200 Question from Marketing/Distribution What is the usefulness of a product or service?

$200 Answer from Marketing/Distribution Utility

$300 Question from Marketing/Distribution What is the series of stages that a product goes through?

$300 Answer from Marketing/Distribution Product Life Cycle

$400 Question from Marketing/Distribution What are the four types of utility?

$400 Answer from Marketing/Distribution Form Time Place Ownership

$500 Question from Marketing/Distribution What are the four P’s of marketing?

$500 Answer from Marketing/Distribution Product, Place, Price, and Promotion

$100 Question from Business Organizations/Competition What is a temporary partnership set up for a specific purpose for a short period of time?

$100 Answer from Business Organizations/Competition Joint Venture

$200 Question from Business Organizations/Competition What is the term for a person that starts a business?

$200 Answer from Business Organizations/Competition Entrepreneur

$300 Question from Business Organizations/Competition What type of market only contains a few companies in competition with one another?

$300 Answer from Business Organizations/Competition Oligopoly

$400 Question from Business Organizations/Competition What type of business organization are most businesses in America?

$400 Answer from Business Organizations/Competition Sole Proprietorships

$500 Question from Business Organizations/Competition What is the term for a business having complete legal responsibility for all debts and damages?

$500 Answer from Business Organizations/Competition Unlimited Liability

$100 Question from Money, Banking, and the Fed What is the name of the American government’s bank?

$100 Answer from Money, Banking, and the Fed The Federal Reserve

$200 Question from Money, Banking, and the Fed What was the FDIC created to do?

$200 Answer from Money, Banking, and the Fed To increase confidence in banks by insuring deposits

$300 Question from Money, Banking, and the Fed What are the three functions of money?

$300 Answer from Money, Banking, and the Fed Store of value, Medium of exchange, Unit of accounting

$400 Question from Money, Banking, and the Fed Most of the currency in the United States is in the form of?

$400 Answer from Money, Banking, and the Fed Federal Reserve Notes

$500 Question from Money, Banking, and the Fed Diamonds could not be used as money because they are not ______________.

$500 Answer from Money, Banking, and the Fed Easily Divisible

$100 Question from Credit and Debt What is the term for the original amount of money borrowed?

$100 Answer from Credit and Debt Principle

$200 Question from Credit and Debt What is the cost of borrowing money?

$200 Answer from Credit and Debt Interest

$300 Question from Credit and Debt What is the term for debts paid back in equal payments over a period of time?

$300 Answer from Credit and Debt Installment Debt

$400 Question from Credit and Debt What is the term for installment debts on land, businesses, or property?

$400 Answer from Credit and Debt Mortgage

$500 Question from Credit and Debt What is a financial institution owned and operated by its members?

$500 Answer from Credit and Debt Credit Union

$100 Question from Second Half What is the cost of credit expressed as dollars and cents?

$100 Answer from Second Half Finance Charge

$200 Question from Second Half What is something of value used to secure a loan?

$200 Answer from Second Half Collateral

$300 Question from Second Half What card is the same as an “electronic check”?

$300 Answer from Second Half Debit Card

$400 Question from Second Half Where are the stocks of the largest corporations in the United States traded?

$400 Answer from Second Half New York Stock Exchange (NYSE)

$500 Question from Second Half What are all of the activities done to move goods and services from the producer to the consumer?

$500 Answer from Second Half Marketing

Final Jeopardy What financial institution takes over contracts on installment debts from retailers and receives a fee for collecting the debt?

Final Jeopardy Answer Finance Companies