Transcript Welcome to the Jeopardy Game Template

Contestants
Don’t
Forget...
…Always phrase
your answers in
the form of a
question!
Hands on your buzzers, its...
Nerdstick
Waterhead
Your Mama
Hazzard
County
Afflicted
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Nerdstick for $100
Two ways buyers
affect price
What is…?
Demand and
willingness to
pay
Back to
Game
Nerdstick for $200
Two side effects of a
natural disaster on
cotton crops.
What are…?
Price goes up
and quantity
supply
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Game
Nerdstick for $300
Goods used in place
of other products
What are…?
…substitute
goods
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Game
Nerdstick for $400
Desire, ability and
willingness to buy a
product
What is…?
demand
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Game
Nerdstick for $500
Libby would rather
have a double whopper
than the big mac due
to…
What is…?
Consumer taste
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Game
Waterhead for $100
One of the biggest
disadvantages of
Sammy opening his
own archery range.
What is…?
Unlimited
liability
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Game
Waterheads for $200
The market for labor would be
part of a ______ market.
What is…?
Factor market
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Game
Waterheads for $300
Small increase In price
leads to a large change
in qd.
What is…?
Price elasticity
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Game
Waterheads for $400
Business type
commonly associated
with doctors and
lawyers.
What is…?
Partnership
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Game
Waterheads $500
Reginald freely and
willingly purchases a mail
order bride form a
Russian based company
on the net.
What is…?
Voluntary exchange
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Game
Your Mama for $100
If the demand moves
left, then supply does
this.
What is…?
decrease
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Game
Your Mama for $200
The U.S. does not have
a pure market
economy, but rather
this.
What is…?
Mixed economy
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Game
Your Mamafor $300
Suppliers will offer
more at higher prices
as long as there is
sufficient demand.
What is…?
The law of supply and
demand
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Game
Your Mama for $400
The point where
quantity supplied
equals the quantity
demanded
What is…?
Equilibrium price
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Game
Your Mama for $500
The use of this provides
an efficient means of
economic exchange
What is…?
Money
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Game
Hazzard County for $100
An industry that is
dominated by a few
large firms
What is…?
Oligopolistic
competition
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Game
Hazzard County for $200
I own my own restaurant but
have to sell burgers because
the corporate office says I
have to. I lack these
What are…?
Franchise rights
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Game
Hazzard County for $300
In this type of competition,
there is a large number of
buyers and sellers with
similar products
What is…?
Perfect
competition
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Game
Hazzard County for $400
New cancer medication
would probably have a
very low this
What is …?
Price elasticity
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Game
Hazzard County for $500
The type of competition in
which firms can make
greater than normal profits
for short periods of time
What is…?
Monopolistic
competition
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Game
Afflicted for $100
Probably the biggest
motivator for business
in a market economy
What is…?
profit
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Game
Afflicted for $200
These are things
corporations sell to
generate money for
their company.
What are…?
Shares, stocks or
bonds
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Game
Afflicted for $300
If the price of concert
tickets goes down, this
will increase dramatically
What is…?
…demand
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Game
Afflicted for $400
Cole invests $15,000 in
Reebok. If Reebok goes into
debt and experiences
bankruptcy, he will only lose
$15,000 because of this
What is…?
Limited liability
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Game
Afflicted for $500
If De- don’t and thousands of
others like her get fired for
sleeping on the job, this will
be the effect on equilibrium
price and quantity supplied
of dum- dum pops.
What is…?
Price will
increase and
quantity will
decline
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Game
•Final Jeopardy
This is the most common type
of variable cost a business
owner could incur.