1. Chapter 3 Review Hosted by Mrs. Piotrowski
Jeopardy
Chapter 3 Review
Hosted by
Mrs. Piotrowski

2. Economy 1
Economy 2
Economy 3
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3. What are the 4 forms of economic competition called?
Monopoly, Oligopoly,
Monopolistic, Pure Competition
Row 1, Col 1

4. What type of economic competition are most retailers involved in?
Monopolistic Competition
Row 2, Col 1

5. What economic competition has Many suppliers that offer very similar products?
Pure Competition
Row 3, Col 1

6. Monopolistic Competition
What type of economic competition is when many firms compete with products that are somewhat different?
Monopolistic Competition
Row 4, Col 1

7.   What economic competition has a few businesses that offer very similar products or services called and give an example
Oligopoly - airlines
Row 5, Col 1

8. What is the amount of satisfaction a consumer receives from the consumption of a particular product called?
Economic Utility
Row 1, Col 2

9. Form, time, place and possession
What are the four types of economic utility?
Form, time, place and possession
Row 2, Col 2

10. What sport did Mrs. Piotrowski play AND what position?
Daily Double
Decide on your wager, and have the team captain tell Mrs. P.
What sport did Mrs. Piotrowski play AND what position?
Softball - outfield

11. List two examples of form utility
Answers will vary
Row 3, Col 2

12. List an example of time and place utility
Answers will vary
Row 5, Col 2

13. This results from changes in the tangible parts of a product or service
Form utility
Row 1, Col 3

14. This results from changing the affordability of the product or service
Possession utility
Row 1, Col 4

15. List two characteristics that are important to determine the type of economic competition
The number of firms competing in the market.
The amount of similarity between the products of competing businesses.
Row 2, Col 4

16. What school does Mrs. Piotrowski’s
Daily Double
Decide on your wager, and have the team captain tell Mrs. P.
What school does Mrs. Piotrowski’s
son go to?
St. Francis High School

17. She didn’t step up to the plate and lead
In the episode of the Apprentice, why did Kristi get fired?
She didn’t step up to the plate and lead
Row 4, Col 4