Transcript Jeopardy_1.01_and_1.02 - Public Schools of Robeson County

Jeopardy
Resources & 6 Steps &
Misc.
Choices
Economic
Systems
Supply and
Measurements
Demand
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Final Jeopardy
$100 Question from Resources
Teachers, farmers, and pizza
delivery men are:
a- Natural resources
b- Capital resources
c- Entrepreneurial resources
d- Human resources
$100 Answer from Resources
Human resources
$200 Question from Resources
Christmas trees, tobacco, and hogs
represent what type of resources for
North Carolina’s economy?
a- Natural
b- Capital
c- Human
d- Entrepreneurial
$200 Answer from Resources
Natural resources
$300 Question from Resources
Revlon, Inc. purchased new machines that will
automatically squeeze the appropriate amount
of shampoo into different size bottles. What
type of economic resources are the machines?
A. Capital
B. Human
C. Natural
D. Service
$300 Answer from Resources
Capital resources
$400 Question from Resources
You are a great cook and decide to open your
own restaurant. You purchase the kitchen
equipment you need, rent space, and hire waiters
and waitresses. You are considered what type of
resource?
a- Human
b- Capital
c- Natural
d- Entrepreneurial
$400 Answer from Resources
Entrepreneurial
$500 Question from Resources
When Wake County wants to build
schools, they borrow money by issuing:
a. Stock
b. Bonds
c. Income
d. Fees
$500 Answer from Resources
Bonds
$100 Question from 6 Steps &
Choices
A hair cut is a:
A- Service
B- Need
C- Natural resource
D- Good
$100 Answer from 6 Steps &
Choices
Service
$200 Question from 6 Steps &
Choices
Tanya closed her restaurant, and now needs another
way to earn an income. Realizing this need is what
part of economic decision-making process?
A. Defining the problem
B. Identifying choices
C. Evaluating the advantages and disadvantages of
each choice
D. Choosing one choice
$200 Answer from 6 Steps &
Choices
Defining the Problem
$300 Question from 6 Steps &
Choices
Zach applied and was to admitted to three
colleges. What step of the decision making
model will he likely take next?
A- Identifying choices
B- Evaluating the advantages and
disadvantages of each choice
C- Choosing one choice
D- Acting on his choice
$300 Answer from 6 Steps &
Choices
Evaluating the
advantages and
disadvantages of
each choice
$400 Question from 6 Steps &
Choices
The basic economic problem that all
economies face is:
A- Unemployment
B- Freedom of choice
C- Tradeoff
D- Scarcity
$400 Answer from 6 Steps &
Choices
Scarcity
$500 Question from 6 Steps &
Choices
Instead of going to the beach this weekend, I decided to
stay in town and save my money toward a week at the
beach during spring break. The amount of money I
saved by not going to the beach is my:
A- Tradeoff
B- Savings
C- Opportunity cost
D- Economic resource
$500 Answer from 6 Steps &
Choices
Opportunity cost
$100 Question from
Economic Systems
The main incentive for individuals to take
risk and start a business in a market
economy is:
A- Private property
B- Freedom of choice
C- Profit
D- Competition
$100 Answer from
Economic Systems
Profit
$200 Question from
Economic Systems
Your company makes airplanes, one of the type of
“governments” paid you for only 5 airplanes.
Afterward, if you produced more, all the extra money
went to the government. Which type of economy
does this represent?
A- Command
B- Market
C- Traditional
D- Mixed
$200 Answer from
Economic Systems
Command
$300 Question from
Economic Systems
Eddie’s Bakery makes cakes as well as
other baked goods. Which economic
question does this address?
A. What to produce?
B. How to produce?
C. For whom to produce?
D. When to produce?
$300 Answer from
Economic Systems
What to produce?
$400 Question from
Economic Systems
In a mixed economy, the government owns major
industries such as banks, but allows individuals to own
companies in other industries. Which economic question
does this answer?
A. What to produce?
B. How to produce?
C. For whom to produce?
D. When to produce?
$400 Answer from
Economic Systems
How to produce?
$500 Question from
Economic Systems
An EXAMPLE of a value for a traditional economy is:
A. a central leadership group expecting all the profit from
production.
B. a local company choosing to produce gaming software.
C. a local company upgrading procedures regularly to
increase production.
D. an individual performing the same jobs as his parents
due to his beliefs.
$500 Answer from H3
an individual
performing the same
jobs as his parents
due to his beliefs.
$100 Question from
Supply and Demand
Which is an EXAMPLE of consumers establishing
demand?
A. Customers waiting in line to purchase new popular
boots.
B. Customers waiting in line to return recalled equipment.
C. Reebok footwear company trying to lease a warehouse.
D. Sears Department Store displaying fewer large lawn
mowers.
$100 Answer from
Supply and Demand
Customers
waiting in line to
purchase new
popular boots.
$200 Question from
Supply and Demand
The struggle between businesses like Wal-Mart and
Target, and McDonalds and Burger King for consumer
dollars represents which principle of the U.S.
economic system?
A- Freedom of choice
B- Competition
C- Private property
D- Profit
$200 Answer from
Supply and Demand
Competition
$300 Question from
Supply and Demand
Sony plans to make and put on the market 60 million
copies of the new Halo game. This represents what self
regulating principle of a market economy?
A- Consumers set demand
B- Producers establish supply.
C- Supply and demand generate competition.
D- Demand and supply factors influence market prices.
$300 Answer from
Supply and Demand
Producers establish supply.
$400 Question from
Supply and Demand
A report about the economy reveals a decreasing
unemployment rate, consumer buying of goods and
services is increasing significantly, and the GDP is
rising. Which business cycle does this report cover?
A. Depression
B. Prosperity
C. Recession
D. Recovery
$400 Answer from
Supply and Demand
Recovery
$500 Question from
Supply and Demand
In this illustration, what is the market price
of pizza?
A- $500
B- $10
C- $250
D- $800
$500 Answer from
Supply and Demand
$10.00
$100 Question from
Measurements
Last month, 54,000 people were laid off in the
U.S., but 67,000 were hired by companies.
This resulted in a decrease in the national:
a. Employment rate
b. GDP rate
c. Unemployment rate
d. Rate of consumer spending
$100 Answer from
Measurements
Unemployment rate
$200 Question from
Measurements
Productivity is considered an indicator of an
economy’s vitality, or lack of it. Productivity
measures:
a. A measure of hourly output per worker
b. How much a person makes in a day
c. How much a company makes in a year
d. How much money a person or company
makes
$200 Answer from
Measurements
A measure of hourly
output per worker
$300 Question from
Measurements
Teacher paychecks and
construction of schools represents
which component of GDP?
a. Consumer spending
b. Business spending
c. Government spending
d. Exports and imports
$300 Answer from
Measurements
Government spending
$400 Question from
Measurements
Our government currently spends more than
it receives in taxes. This has resulted in a
budget:
a. GDP
b. Surplus
c. Reduction
d. Deficit
$400 Answer from
Measurements
Deficit
$500 Question from
Measurements
A report about the economy reveals a decreasing
unemployment rate, consumer buying of goods and
services is increasing significantly, and the GDP is
rising. Which business cycle does this report cover?
A. Depression
B. Prosperity
C. Recession
D. Recovery
$500 Answer from
Measurements
Recovery
Final Jeopardy
Increased personal savings contributes to economic
growth by:
A- Providing money for banks to lend
B- Increasing retail sales
C- Providing more taxes to the government
D- Decreasing personal income
How much is your team betting on this question?
Final Jeopardy Answer
A- Providing money for
banks to lend