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Jeopardy: Unit I BACK TO BASICS MEGA MODELS GO TO GOAL3 OF A KINDMERGER MANIA 10 20 30 40 50.

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Presentation on theme: "Jeopardy: Unit I BACK TO BASICS MEGA MODELS GO TO GOAL3 OF A KINDMERGER MANIA 10 20 30 40 50."— Presentation transcript:

1 Jeopardy: Unit I BACK TO BASICS MEGA MODELS GO TO GOAL3 OF A KINDMERGER MANIA 10 20 30 40 50

2 What are the three basic questions every economy must answer? A

3 Define “economics” B

4 List 3 examples of capital C

5 Explain the difference between durable and non-durable goods D

6 The situation in which some necessities have little or no value, while some non-necessities have a much higher value is known as _________________________ E

7 The economic model showing the flow of goods and services as well as the flow of money in our economy is known as the ___________________________ F

8 What market do consumers shop in? What market do producers shop in? G

9 A diagram illustrating the concept of opportunity cost, by contrasting the production of two competing goods is known as _________________________ H

10 Why do economists use economic models? I

11 Explain the difference between trade-off and opportunity cost. J

12 Consumers have the freedom to decide how to spend their income. What socioeconomic goal is represented by this? K

13 FDIC, Social Security, and Unemployment Insurance all represent the socioeconomic goal of ______________________. L

14 The progressive income tax and minimum wage are examples of what socioeconomic goal? M

15 Who makes the decisions in - a traditional economy? - a command economy? - a market economy? N

16 What is the correct term for the type of economy the United States has? O

17 Which type of business accounts for almost ¾ of all businesses in the United States? P

18 Which type of businesses account for almost 90% of all sales of goods and services in the United States? Q

19 Unlimited liability, quick decisions, and not having to share the profits are characteristics of what type of business? R

20 A type of business that can have two or more partners and can either be limited or general is known as ___________________ S

21 List the three types of business organizations and give 1 disadvantage of each. T

22 List 2 reasons why mergers occur U

23 Explain what a multinational company is. Give 1 example. V

24 What is a conglomerate? Give 1 example. W

25 Create a horizontal merger that includes at least 4 companies X

26 Create a vertical merger that includes at least 4 companies Y


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