Welcome to the Jeopardy Game Template

1
Welcome to the Jeopardy Game Template

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This Template was created by Cassandra Smith of
the MCPS eLearning Staff Development
Team http//www.mcps-elearning.us Last Updated
November 11, 2003
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Microeconomics
JEOPARDY
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Contestants
Dont Forget...
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Always phrase your answers in the form of a
question!
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Hands on your buzzers, its...
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Nerdstick
Waterhead
Hazzard County
Afflicted
Your Mama
100
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100
200
200
200
200
200
300
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300
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400
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500
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500
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500
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Nerdstick for 100
Two ways buyers affect price
What is?
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Demand and willingness to pay
Back toGame
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Nerdstick for 200
Two side effects of a natural disaster on cotton
crops.
What are?
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Price goes up and quantity supply
Back toGame
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Nerdstick for 300
Goods used in place of other products
What are?
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substitute goods
Back toGame
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Nerdstick for 400
Desire, ability and willingness to buy a product
What is?
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demand
Back toGame
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Nerdstick for 500
Libby would rather have a double whopper than the
big mac due to
What is?
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Consumer taste
Back toGame
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Waterhead for 100
One of the biggest disadvantages of Sammy opening
his own archery range.
What is?
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Unlimited liability
Back toGame
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Waterheads for 200
The market for labor would be part of a ______
market.
What is?
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Factor market
Back toGame
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Waterheads for 300
Small increase In price leads to a large change
in qd.
What is?
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Price elasticity
Back toGame
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Waterheads for 400
Business type commonly associated with doctors
and lawyers.
What is?
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Partnership
Back toGame
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Waterheads 500
Reginald freely and willingly purchases a mail
order bride form a Russian based company on the
net.
What is?
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Voluntary exchange
Back toGame
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Your Mama for 100
If the demand moves left, then supply does this.
What is?
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decrease
Back toGame
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Your Mama for 200
The U.S. does not have a pure market economy, but
rather this.
What is?
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Mixed economy
Back toGame
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Your Mamafor 300
Suppliers will offer more at higher prices as
long as there is sufficient demand.
What is?
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The law of supply and demand
Back toGame
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Your Mama for 400
The point where quantity supplied equals the
quantity demanded
What is?
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Equilibrium price
Back toGame
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Your Mama for 500
The use of this provides an efficient means of
economic exchange
What is?
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Money
Back toGame
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Hazzard County for 100
An industry that is dominated by a few large firms
What is?
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Oligopolistic competition
Back toGame
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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?
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Franchise rights
Back toGame
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Hazzard County for 300
In this type of competition, there is a large
number of buyers and sellers with similar products
What is?
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Perfect competition
Back toGame
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Hazzard County for 400
New cancer medication would probably have a very
low this
What is ?
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Price elasticity
Back toGame
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Hazzard County for 500
The type of competition in which firms can make
greater than normal profits for short periods of
time
What is?
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Monopolistic competition
Back toGame
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Afflicted for 100
Probably the biggest motivator for business in a
market economy
What is?
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profit
Back toGame
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Afflicted for 200
These are things corporations sell to generate
money for their company.
What are?
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Shares, stocks or bonds
Back toGame
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Afflicted for 300
If the price of concert tickets goes down, this
will increase dramatically
What is?
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demand
Back toGame
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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?
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Limited liability
Back toGame
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Afflicted for 500
If De- dont 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?
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Price will increase and quantity will decline
Back toGame
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This is the most common type of variable cost a
business owner could incur.

• Final Jeopardy

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Thank You for Playing