2. BF Business Foundations Chapters 1-6 Review JEOPARDY

3. RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands 100 200 300 400 500RouterModesWANEncapsulationWANServicesRouterBasicsRouterCommands 100 200 300 400 500 Chapter 1: Wants/Needs Chapter 1: Wants/Needs Chapter 2: Economic Resources Chapter 2: Economic Resources Chapter 3: Economic Activity Chapter 3: Economic Activity Chapter 4: Ethics Chapter 4: Ethics Chapter 5: Entrep. & Small Bus. Chapter 5: Entrep. & Small Bus. Chapter 6: Business Ownership Chapter 6: Business Ownership 100 200 300 400 500 100 200 300 400 500 F i n a l J e o p a r d y Q u e s t i o n

4. Question The amount of money left over after the business has paid for the cost of producing goods and services. Chapter 1 100 A: What is profit? 100 200 300 400 500

5. Question A: What is competition? The contest between businesses to win customers. Chapter 1 200 100 200 300 400 500

6. Question 100 200 300 400 500 A: What is a consumer? The person who selects, purchases, uses, or disposes of goods or services. Chapter 1 300

7. Question 100 200 300 400 500 A: What is the decision making process? The procedure for carefully considering alternatives and their consequences before making a final decision. Chapter 1 400

8. Question 100 200 300 400 500 A: What is a resource? Anything people can use to make or obtain what they need or want. Chapter 1 500

9. Question 100 200 300 400 500 A: What are natural resources? Raw materials found in nature. Chapter 2 100 200 300 400 500

10. Question 100 200 300 400 500 A: What is scarcity? Shortage of resources. Chapter 2 200

11. Question 100 200 300 400 500 A: What is a market economy? Combination of a command and market economy. Chapter 2 300

12. Question 100 200 300 400 500 A: What are the factors of production? The study of how a society chooses to use it resources and distribute goods. Chapter 2 400

13. Question 100 200 300 400 500 A: What is the equilibrium price? The price when the quantity of supply meets the quantity of demand of a particular good or service. Chapter 2 500

14. Question 100 200 300 400 500 A: What are economic indicators? Term for figures used to measure an economic performance. Chapter 3 100

15. Question 100 200 300 400 500 A: What is a budget surplus? When a nation spends less than its income. Chapter 3 200

16. Question 100 200 300 400 500 A: What is the unemployment rate? Measures the number of people who are able to work, but do not have a job. Chapter 3 300

17. Question 100 200 300 400 500 A: What is the ripple effect? When a recession spreads from one industry to another industry. Chapter 3 400

18. Question 100 200 300 400 500 A: What is Peak, Recession, Depression, Recovery? The 4 stages of the business cycle. Chapter 3 500

19. Question 100 200 300 400 500 A: What is are ethics? The obligation to do what is best for the welfare of society. Chapter 4 100

20. Question 100 200 300 400 500 A: What is a code of ethics? A company’s set of guidelines for upholding ethical behaviors. Chapter 4 200

21. Question 100 200 300 400 500 A: What are business ethics? The rules that govern how we do business. Chapter 4 300

22. Question 100 200 300 400 500 A: What is the Equal Pay Act? Federal law requiring men and women be paid the same wage for doing the same work. Chapter 4 400

23. Question 100 200 300 400 500 A: What is the Environmental Protection Agency (EPA)? Federal agency that enforces rules to protect the environment and control pollution. Chapter 4 500

24. Question 100 200 300 400 500 A: What is a virtual business or dot-com? A business that operates on the Internet. Chapter 5 100

25. Question 100 200 300 400 500 A: What are small businesses? Employs more than 50% of the workforce in the U.S. Chapter 5 200

26. Question 100 200 300 400 500 A: What is an entrepreneur? Person who assumes the risks of a business enterprise. Chapter 5 300

27. Question 100 200 300 400 500 A: What is a business plan? The written description of a new business venture that describes all aspects of the business. Chapter 5 400

28. Question 100 200 300 400 500 A: What is the Small Business Administration (SBA)? According to this agency, small business owners are usually the managers. Chapter 5 500

29. Question 100 200 300 400 500 A: What is a partnership? Business owned by two or more people. Chapter 6 100

30. Question 100 200 300 400 500 A: What are small businesses? About 75% of all businesses in the U.S. are organized as this. Chapter 6 200

31. Question 100 200 300 400 500 A: What is a corporate charter? License to run a corporation. Chapter 6 300

32. Question 100 200 300 400 500 A: What is a board of directors? Corporation is overseen/controlled by this. Chapter 6 400

33. Question 100 200 300 400 500 A: What is a cooperative? Ocean Spray is an example of this type of organization. Chapter 6 500

34. Question A: What is the customer purchases the product/service while the consumer uses the product/services. They can be the same person and in most cases, they are! Describe the difference between a consumer and a customer. Final Jeopardy 100 200 300 400 500