Economics

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Transcript Economics

Geography Jeopardy!
Economics
Systems
Levels of
Activity
Traditional
Concepts
Economics
& the World
100
100
100
100
100
200
200
200
200
200
300
300
300
300
300
400
400
400
400
400
500
500
500
500
500
Final Jeopardy! Question
Economics
Economic
descriptors
Free market/Capitalism
System governed by
“supply and demand”,
features include private
ownership of businesses
Systems
100
Socialism
System governed by
“greater good”, features
include collective labor
ownership of businesses
Systems
200
Communism/Command
economy
System governed by
“greater good”, features
include
government/small party
ownership of businesses
Systems
300
Communism
System envisioned by
Karl Marx
Systems
400
Mixed economy
Although most
countries identify
themselves as capitalist
or communist, a more
correct descriptor of all
economies
Systems
500
Quaternary (4)
The level of economic
activity represented by
information processing
and management – i.e.,
technology
development, research
Levels of
activity
100
Tertiary (3)
The level of economic
activity represented by
providing services – i.e.,
supermarket, teacher,
doctor
Levels of
activity
200
Primary (1)
The level of economic
activity represented by
the production of raw
materials – i.e.,
agriculture, mining,
fishing
Levels of
activity
300
Secondary (2)
The level of economic
activity represented by
making or refining
products from raw
materials – i.e., making
furniture, turning crude
oil into gasoline
Levels of
activity
400
(Answers vary – points
awarded at teacher discretion)
Name one career at each
level of economic
activity
Levels of
activity
500
Barter
Swapping goods and
services without the use
of money
Traditional
100
Subsistence agriculture
Producing just enough
to provide food for
yourself and your
family
Traditional
300
Cottage industry
Small-scale production
based in the home
Traditional
200
Primary and secondary
The levels of economic
activity most likely to
occur in a developing
nation
Traditional
400
Less Developed
A term used to describe
pre-industrial societies
with low standards of
living
Traditional
500
Outsourcing
The physical separation of
economic activities from
the main production
facility, usually for the
purpose of employing
cheaper labor
Concepts
100
Gross Domestic Product
The total value of goods
and services created
within a country
Concepts
200
Specialization
Production of a limited
scope of products or
services in order to gain
greater degrees of
productive efficiency
Concepts
300
Tariffs
Taxes imposed on certain
imported goods and
services to keep out
foreign competition and
allow the growth of
domestic economic sectors
Concepts
400
Industrialization
The development of
manufacturing facilities on
an extensive scale – a
“revolution” of this sort
transformed economies in
Europe and the U.S.
Concepts
500
NAFTA
An agreement that
removed tariff and nontariff barriers to trade
between the U.S., Canada,
and Mexico
Economics
& the World
100
Export-based economy
Many countries in Latin
America have this type of
economy; its disadvantage
is a dependence on
economic strength in other
regions of the world
Economics
& the World
200
Import-based economy
Japan and Hawaii both
have this kind of economy
due to their lack of land to
produce their own goods
Economics
& the World
300
European Union
Created by a number of
European countries to
better coordinate
economic activities
Economics
& the World
400
Columbian Exchange
Historical term used to
describe the transfer of
plants, animals, and goods
between the “Old World”
and the “New World”
Economics
& the World
500
GDP Per Capita
Used to measure
relative wealth between
nations – ignores the
inequalities within
society by pretending it
is equally distributed to
all people
Final
Jeopardy!