Jeopardy True/False Economies Terms Q$100 Q$200 Q$300 Q$400 Q$500 Q$100 Q$200 Q$300 Q$400 Q$500 FinalFinal Jeopardy Measure Q$100 Q$200 Q$300 Q$400 Q$500 Q$100 Q$200 Q$300 Q$400 Q$500 Q$100 Q$200 Q$300 Q$400 Q$500

$100 Question from True/False A compact disc player is an example of a need—True or False?

$100 Answer from True/False What is False.

$200 Question from True/False Tangible products you can purchase to meet your wants and needs are called goods—True or False?

$200 Answer from True/False What is True.

$300 Question from True/False When you decide to buy a jacket instead of a concert ticket, you are making a tradeoff—True or False?

$300 Answer from True/False What is True.

$400 Question from True/False A period in which unemployment begins to rise, demand begins to decrease and businesses lower production is called recovery—True or False?

$400 Answer to True/False What is False.

$500 Question from True/False The market price for a product is the point where demand is greater than supply—True or False?

$500 Answer to True/False What is False.

$100 Question from True/False In the early 1890s, the average employee in the United States worked about 60 hours per week—True or False?

$100 Answer from True/False What is True.

$200 Question from True/False Dividing GDP by the total population of a country results in that country’s GDP per capita—True or False?

$200 Answer from True/False What is True.

$300 Question from True/False The basic economic problem is having unlimited wants and needs but limited economics resources—True or False?

$300 Answer from True/False What is True.

$400 Question from True/False Water, air and minerals are examples of capital resources—True or False?

$400 Answer to True/False What is False.

$500 Question from True/False Movement of the economy from one condition to another is called the business cycle—True or False?

$500 Answer to True/False What is True.

$100 Question from Economies Resources are owned and controlled by the people of the country.

$100 Answer from Economies What is a market economy?

$200 Question from Economies The government decides what and how goods are produced.

$200 Answer from Economies What is a command economy?

$300 Question from Economies Workers often use hand tools and readily available natural resources.

$300 Answer from Economies What is a traditional economy?

$400 Question from Economies A system that combines market, traditional and command economies.

$400 Answer to Economies What is a mixed economy?

$500 Question from Economies Capitalism, private enterprise and free enterprise are other names for this economic system.

$500 Answer to Economies What is a market economy?

$100 Question from Terms A nation’s plan for answering the three economic questions.

$100 Answer from Terms What is the economic system?

$200 Question from Terms Businesses that offer very similar products to the same customers.

$200 Answer from Terms Who are competitors?

$300 Question from Terms A person who buys and uses goods and services.

$300 Answer from Terms Who is a consumer?

$400 Question from Terms When the government spends more than it takes in.

$400 Answer to Terms What is a budget deficit?

$500 Question from Terms Money spent by a business for an item (such as land, buildings or equipment) that will be used over a long period.

$500 Answer to Terms What is capital spending or capital projects?

$100 Question from Measure Compares the prices of a group of selected items each year to some earlier year.

$100 Answer from Measure What is the CPI (Consumer Price Index)?

$200 Question from Measure The total dollar value of all final goods and services produced each year in a country.

$200 Answer from Measure What is the GDP (Gross Domestic Product)?

$300 Question from Measure Monthly measure of the sales of durable and nondurable goods bought by consumers.

$300 Answer from Measure What is retail sales?

$400 Question from Measure Refers to salaries and wages as well as investment income and government payments to individuals.

$400 Answer to Measure What is personal income?

$500 Question from Measure The percentage of people in the labor force who are willing to work, are looking for work but are unable to find work.

$500 Answer to Measure What is the unemployment rate?

Final Jeopardy Question The age when a person is considered to be part of the labor force.

Final Jeopardy Answer What is 16?