2. © Mark E. Damon - All Rights Reserved

3. Another Presentation © 2001 - All rights Reserved markedamon@hotmail.com

4. © Mark E. Damon - All Rights Reserved Directions: Scroll through the presentation and enter the answers (which are really the questions) and the questions (which are really the answers). Enter in the categories on the main game boards. As you play the game, click on the TEXT DOLLAR AMOUNT that the contestant calls, not the surrounding box. When they have given a question, click again anywhere on the screen to see the correct question. Keep track of which questions have already been picked by printing out the game board screen and checking off as you go. Click on the “Game” box to return to the main scoreboard. Enter the score into the black box on each players podium. Continue until all clues are given. When finished, DO NOT save the game. This will overwrite the program with the scores and data you enter. You MAY save it as a different name, but keep this file untouched!

5. © Mark E. Damon - All Rights Reserved Round 1Round 2 Final Jeopardy

6. © Mark E. Damon - All Rights Reserved Problems in Economics Trade- offs What do Economist do? Problems in Economics (2) Trade- offs (2) $100 $200 $300 $400 $500 Round 2 Final Jeopardy Scores What do Economist do? (2)

7. © Mark E. Damon - All Rights Reserved $100 The study of how individuals, families, businesses, and societies use limited resources to fulfill their unlimited wants

8. © Mark E. Damon - All Rights Reserved $100 What is economics? Scores

9. © Mark E. Damon - All Rights Reserved $200 Individual satisfy their unlimited wants in a world of limited resources by doing this.

10. © Mark E. Damon - All Rights Reserved $200 What is making choices? Scores

11. © Mark E. Damon - All Rights Reserved $300 Businesspeople make decisions daily about these 3 things.

12. © Mark E. Damon - All Rights Reserved $300 What is “what to produce now, what to produce later, and what to stop producing?” Scores

13. © Mark E. Damon - All Rights Reserved $400 This is the basic problem of economics.

14. © Mark E. Damon - All Rights Reserved $400 What is scarcity? Scores

15. © Mark E. Damon - All Rights Reserved $500 These often occur after hurricanes or floods destroy goods and property.

16. © Mark E. Damon - All Rights Reserved $500 What are shortages? Scores

17. © Mark E. Damon - All Rights Reserved $100 Sacrificing one good or service to purchase or produce another.

18. © Mark E. Damon - All Rights Reserved $100 What is a trade-off? Scores

19. © Mark E. Damon - All Rights Reserved $200 Trade-offs affect not only your life now, but also what you earn in …

20. © Mark E. Damon - All Rights Reserved $200 What is the future? Scores

21. © Mark E. Damon - All Rights Reserved $300 The value of the next best alternative that had to be given up to do the action that was chosen.

22. © Mark E. Damon - All Rights Reserved $300 What is opportunity cost? Scores

23. © Mark E. Damon - All Rights Reserved

24. $400 The classic example for explaining production possibilities in economics the the trade-off between “guns vs. butter” or…

25. © Mark E. Damon - All Rights Reserved $400 What is military defense and civilian goods? Scores

26. © Mark E. Damon - All Rights Reserved $500 This is a graph showing the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time.

27. © Mark E. Damon - All Rights Reserved $500 What is the production possibilities curve? Scores

28. © Mark E. Damon - All Rights Reserved $100 The branch of economic theory that deals with behavior and decision making by small units such as individuals and firms.

29. © Mark E. Damon - All Rights Reserved $100 What is microeconomics? Scores

30. © Mark E. Damon - All Rights Reserved $200 The branch of economic theory dealing with the economy as a whole and decision making by large units such as governments.

31. © Mark E. Damon - All Rights Reserved $200 What is macroeconomics? Scores

32. © Mark E. Damon - All Rights Reserved $300 Economics is the activity in a nation that together affects the production, _______, and use of goods and services.

33. © Mark E. Damon - All Rights Reserved $300 What is distribution? Scores

34. © Mark E. Damon - All Rights Reserved $400 These are simplified representations of the real world

35. © Mark E. Damon - All Rights Reserved $400 What are economic models? Scores

36. © Mark E. Damon - All Rights Reserved $500 The most common economic model is a ________ explaining how consumers react to price changes.

37. © Mark E. Damon - All Rights Reserved $500 What is a line graph? Scores

38. © Mark E. Damon - All Rights Reserved $100 These are resources of land, labor, capital and entrepreneurship used to produce goods and services.

39. © Mark E. Damon - All Rights Reserved $100 What are factors of production? Scores

40. © Mark E. Damon - All Rights Reserved $200 This includes fish, animals, forests, mineral deposits, and other “gifts of nature.”

41. © Mark E. Damon - All Rights Reserved $200 What is land? Scores

42. © Mark E. Damon - All Rights Reserved $300 This is often called a human resource.

43. © Mark E. Damon - All Rights Reserved $300 What is labor? Scores

44. © Mark E. Damon - All Rights Reserved $400 Capital also increases _______.

45. © Mark E. Damon - All Rights Reserved $400 What is productivity? Scores

46. © Mark E. Damon - All Rights Reserved $500 Some economists add this factor of production to their list.

47. © Mark E. Damon - All Rights Reserved $500 What is technology? Scores

48. © Mark E. Damon - All Rights Reserved $100 To produce more of one good on the PPC, one must produce …

49. © Mark E. Damon - All Rights Reserved $100 What is “less of the other?” Scores

50. © Mark E. Damon - All Rights Reserved $200 Because of ______ ______, less can be produced of one thing, when the other’s production is high.

51. © Mark E. Damon - All Rights Reserved $200 What is limited resources? Scores

52. © Mark E. Damon - All Rights Reserved $300 The opportunity cost of going to a university for four years after high school instead of working is…

53. © Mark E. Damon - All Rights Reserved $300 What is the money from having a job? Scores

54. © Mark E. Damon - All Rights Reserved $400 Every _______ involves an opportunity cost.

55. © Mark E. Damon - All Rights Reserved $400 What is a trade-off? Scores

56. © Mark E. Damon - All Rights Reserved $500 A nation can decide how best to use it’s resources by using this.

57. © Mark E. Damon - All Rights Reserved $500 What is the production possibilities curve? Scores

58. © Mark E. Damon - All Rights Reserved $100 These hold everything constant except the variables assumed to be related.

59. © Mark E. Damon - All Rights Reserved $100 What are economic models? Scores

60. © Mark E. Damon - All Rights Reserved $200 An educated guess or prediction.

61. © Mark E. Damon - All Rights Reserved $200 What is a hypothesis? Scores

62. © Mark E. Damon - All Rights Reserved $300 This allows economists to see if the model represents reality under certain conditions.

63. © Mark E. Damon - All Rights Reserved $300 What is testing? Scores

64. © Mark E. Damon - All Rights Reserved $400 This is not always predictable.

65. © Mark E. Damon - All Rights Reserved $400 What is individual human behavior? Scores

66. © Mark E. Damon - All Rights Reserved $500 Personal opinions, beliefs and the government are all reasons for…

67. © Mark E. Damon - All Rights Reserved $500 What are the different schools of economic thought? Scores