Entrepreneurship JEOPARDY! FINAL REVIEW Get ready to play… 2013 Mrs. Griffin

Con umer Education JEOPARDY! 1.The room will be divided into two groups or teams. 2.Each side will take turns selecting a question. 3.Each person from the team will have a chance to answer (we will go up and down the rows with each question so everyone gets a chance). 4.If you cannot answer within 30 seconds, the player may opt to “pass” to their teammates to answer. (NO HELPING!) 5.If they cannot answer within 30 seconds, we will give the other team a chance to answer. 6.Incorrect answers in Double Jeopardy will be penalized—so be careful! 7.You may use your books/notes but hurry up! Time will run out! 8.There are 6 Daily Doubles. 9.A score keeper is needed. 10.Answers must be in the form of a question. 11.The team with the most money wins! Let’s Play!

$500 $400 $300 $200 $100 Unit 2Unit 5Unit 4Unit 3Unit 1

What is persistent? A successful entrepreneur is willing to work until a job is done. Which of these terms describes this characteristics? Self- confident, enthusiastic, persistent Unit 1

Who is the owner? The success or failure of an entrepreneurial venture rests entirely on the_______. Unit 1

What is royalty? McDonalds collects 8% of gross sales from franchise owners weekly. This is an example of a(n) Unit 1

What is independance? Entrepreneurs want to make their own decisions. What term best describes this characteristic? Unit 1

What is establish clear lines of responsibility? One way to prevent some of the problems that family businesses face is to___________________. Unit 1

What is marketing plan? Which of the following is a blueprint used by a business to guide its marketing activities to a desired conclusion? objectives, vision, target market, marketing plan Unit 2

What is competition? One factor that affects price is which of the following: competition, price skimming, product positing Unit 2

What is Markup? ________ is the amount added to your cost to cover expenses and ensure a profit. Unit 2

What is sweepstakes and contests? Jewel gave its customers a change to win prizes including a new car, 10,000 vacation, and gift cards, by playing a Monopoly game. What type of sales promotion is this? Unit 2

What is an Advertising Agency? A (n) _________ is a company that acts as an intermediary between a business and the media to communicate a message to the target market. Unit 2

What is competition? A key element in a market economy between similar businesses is: service, competition, fixed prices, exporting Units 3

What is fewer employees? If the demand for your business goes down, you may need: additional staff, unions, fewer employees, more supplies Units 3

What is demand? The amount of goods or services that consumers are willing and able to buy is determined by: Units 3

What is supply? The amount of a good or service that producers are willing to provide is called: Units 3

What is scarcity? The fundamental economic problem of unlimited wants and needs when there are limited resources is known as: Units 3

What is True? To accurately calculate start-up costs, you will need to speak with suppliers, vendors, manufacturers, distributors, and others in your industry. True or False Units 4

What is true? Venture capitalists are typically very selective before investing in start-up companies. True or False Units 4

What is Equity Capital? Cash raised in exchange for an ownership stake in the business is known. Units 4

What is debt capital? Money raised by taking out loans is known as: Units 4

What is trade capital? Business grant these to other businesses for purchase of goods and services. What type of capital is this? Units 4

What is Theory Y? The theory of management where the managers believes employees are responsible, like to work, and want intrinsic rewards. Is known as? Units 5

What is Theory X? The theory of management where the manager believes employees are basically lazy and need constant supervision is known as: Units 5

What is rule? Employees shall wear hard hats in all construction areas is an example of a: Units 5

What is policy? Statement of principles and procedures that serve as guidelines for daily business operations. They allow some degree of flexibility. Units 5

What is authoritative? A management style in which a manager tries to maintain control over the whole operations is known as: Units 5