1. Jeopardy!
Genesis Ventura
Period 2
Begin

2. Supply Graphs $100 $100 $100 $100 $100 $100 $200 $200 $200 $200 $200
Demand
Supply
Principles
Graphs
Production
possibilities
Shifters
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3. - $100 The amount of a good that buyers are willing and able to purchase.
Quantity demanded

4. - $200 The claim that, other things equal, the quantity demanded of a good falls when the price of a good rises.
C1-$200
Law of demand.

5. - $300 A graph of the relationship between the price of a good and the quantity demanded.
Demand curve

6. - $400 Various things shift a demand curve right or left
- $400 Various things shift a demand curve right or left. These are things that are not price, example: seasons, tastes and preferences etc
C1-$400
Changes is demand

7. - $500 A table that shows the relationship between the price of a good and the quantity demanded.
Demand schedule

8. - $100 The claim that, other things equal, the quantity supplied of a good rises when the price of the good rises.
C2-$100
Law of supply

9. - $200 A graph of the relationship between the price of a good and the quantity supplied.
Supply curve

10. Price effect/law of supply
- $300 All things being equal, more is supplied at a higher price than at a lower price.
C2-$300
Price effect/law of supply

11. - $400 Various things shift a supply curve right or left
- $400 Various things shift a supply curve right or left. Suppliers are willing to offer more or less for sale at each and every price.
C2-$400
Changes in supply

12. - $500 A table that shows the relationship between the price of a good and the quantity supplied.
Supply schedule

13. - $100 Where there aren’t enough resources available to satisfy our wants.
Scarcity

14. - $200 Rewards designed to influence a specific behavioral response.
Incentives

15. - $300 Physical objects produced for sale.
Goods

16. - $400 Activities done for us by others
Service

17. - $500 Can be money, or any tool that helps us produce a good or service
Capitol

18. - $100
C4-$100
Supply Curve

19. - $200
C3-200
Demand curve

20. Circular flow of income
- $300
C3-$300
Circular flow of income

21. - $400
C3-$400
Shift in demand

22. Supply and demand curve
- $500
C3-$500
Supply and demand curve

23. - $100 The second best choice you gave up when you chose the first best choice
Opportunity cost

24. Productive efficiency
- $200 Condition where the maximum output is produced with the given resources and technology.
C4-$200
Productive efficiency

25. - $300 What Occurs when an economy operates inside the PPC/PPF?
Inefficiency/unemployment

26. - $400 What Occurs at any point outside the PPC/PPF?
Unattainable

27. Law of increasing opportunity costs
- $500 As more of a good is produced, the opportunity costs of producing that good increase
C4-$500
Law of increasing opportunity costs

28. - $100 Consumer Numbers shift what?
Demand curve

29. - $200 Future Expectations shift what?
Demand curve

30. - $300 Number of Sellers shift what?
C4-$300
Supply curve

31. - $400 Price of Related Goods such as substitutes and complements shifts what?
Demand curve

32. - $500 Taxes and Subsidies shift what?
C4-$500
Supply curve