1. UNIT 6 REVIEW DAY Roll Call Question: Water slide or trampoline?

2. MENTAL FLOSS Objective: Students should have mastered 6.1- 6.4 for their test tomorrow Vocab No New Vocab Questions 1. What is a disadvantage of a CD? 2. What are the profits that are paid to stockholders? 3. What is a mutual fund?

3. MENTAL FLOSS ANSWERS 1. What is a disadvantage of a CD? A disadvantage of CDs is that you are unable to access your funds for a certain amount of time. 2. What are the profits that are paid to stockholders? The profits paid to stockholders are called dividends. 3. What is a mutual fund? A combination of stocks and bonds where a broker invests in a few shares of many stocks.

4. REMINDERS Unit 6 Test tomorrow!!!!! Unit 6 Blueprints due tomorrow at the beginning of class Budget project parts 7-13 due on 5/9 (you have ONE week!!!!) Wednesday is a special day!!!!

5. PART 6 Any late projects? You will NOT get parts 7-13 until part 6 has been turned in, graded for accuracy and returned to you

6. UNIT 6 BLUEPRINTS Complete the Unit 6 Blueprint then come see me to play the review game

7. CHUTES AND LADDERS

8. The consumer has a desire to own something and has the ability to pay for it, he or she creates a …

9. DEMAND

10. The Demand for lightbulbs would ________ if the price of lamps decreased because lightbulbs and lamps are ____________ goods.

11. Increase; complementary

12. The law of _____ states that when a good’s price is lower, people will buy more of the good

13. DEMAND

14. The Law of _______ states that businesses will create more products when they can sell them at a higher price.

15. SUPPLY

16. In which market would individuals buy goods and services?

17. Product market

18. If suppliers cannot meet the demand, would a surplus or shortage be created?

19. shortage

20. The exchange of money from businesses to households in the form of income and products is called…

21. Circular flow

22. Are bonds high risk or low risk? Are they high return or low return?

23. Low risk, low return

24. Are Coke and Pepsi compliments or substitutes?

25. Substitutes

26. Why are savings accounts good investments?

27. You make money on your investment (interest)

28. How are stock prices determined?

29. Supply and Demand

30. If the rubber used in shoes increased in price, what would the shift be?

31. Decrease in Supply

32. In the US, prices are usually established by both __________ and __________.

33. Supply and demand

34. There are 4 cell phone companies the own 89% of the market. What type of competition is described?

35. Oligopoly

36. Would the supply curve or demand curve shift if the government provided subsidies to farmers?

37. supply

38. In the circular flow model, who sells labor to businesses and pays taxes to the government?

39. Households

40. Money needed to start and operate a business

41. Financial capital

42. Profits paid to stockholders

43. Dividends

44. If you only purchase one brand of fast food, even though there are numerous similar brands and similar price points to choose from, what type of competition are you demonstrating?

45. Pure competition

46. Are hot dogs and buns compliments or substitutes? If hot dogs increase in price, what will happen to the demand for buns?

47. Compliments; decrease

48. A new baby boom would increase the __________ for diapers.

49. demand

50. The government provides money to small businesses to aid their production of goods and services is an example of a

51. Subsidy

52. This type of investment is a mixture of stocks and bonds handled by a broker.

53. Mutual Fund

54. If the price is too high, would a surplus or shortage be created?

55. surplus

56. If the price is too low, would a surplus or shortage be created?

57. shortage

58. If the crop of apples were hit by a freeze, what would the shift be? What would happen to the price?

59. Decrease in Supply; increase in price

60. If robots were to make car assembly faster and cheaper, what would the shift be?

61. Increase in Supply

62. What do households and businesses both give to the government in circular flow?

63. Taxes

64. Which market can be described as where the businesses buy the factors of production from the households?

65. Factor market

66. Which market can be described as where the households buy finished goods and services from the businesses?

67. Product market

68. What does the government give to households in return for their taxes? (2 things)

69. Entitlements and Services

70. What does the government give to businesses in return for their taxes? (2 things)

71. Regulations and subsidies

72. What is the shift?

73. Demand decrease

74. What is the shift?

75. Supply increase

76. What is the shift?

77. Demand increase

78. What is the shift?

79. Supply decrease

80. What does the B in Biter stand for?

81. Buyers (number of)

82. What does the I in Biter stand for?

83. Income

84. What does the T in Biter stand for?

85. tastes

86. What does the E in Biter stand for?

87. Expectations

88. What does the R in Biter stand for?

89. Related goods (Complements and substitutes)

90. What does the S in Stoner stand for?

91. Subsidies and taxes

92. What does the T in Stoner stand for?

93. Technology

94. What does the O in Stoner stand for?

95. Other goods

96. What does the N in Stoner stand for?

97. Number of sellers

98. What does the E in Stoner stand for?

99. Expectations

100. What does the R in Stoner stand for?

101. Resources

102. Since there are 2 major brands of cereals that are sold at different price points, what type of competition is there?

103. Monopolistic

104. The farmer’s market, since there are numerous competitors at similar prices is which type of competition?

105. Perfect/pure