Jeopardy Economic Incentives Producers Consumers Goods & Services Econ Words Misc. Q $100 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $400 Q $500 Q $500 Q $500 Q $500 Q $500 Final Jeopardy

$100 Question What is a Speeding Ticket? Positive or Negative Economic Incentive?

$100 Answer Negative Economic Incentive

$200 Question Buy one get one free -Positive or Negative Economic Incentive?

$200 Answer Positive Economic Incentive

$300 Question Kids Eat Free on Tuesday! What kind of Economic Incentive is this?

$300 Answer Kids Eat Free on Tuesday! Is a Positive Economic Incentive

$400 Question What is a positive incentive that Arby’s could offer it’s customers?

$400 Answer Buy one get one free, a coupon for $2 off, Other answers are possible

$500 Question What negative economic do the police use to help keep people Safe??

$500 Answer Speeding tickets, fines, other answers Are possible

Someone who makes a good or $100 Question Someone who makes a good or provides a service is called a _________.

$100 Answer Producer

Someone who buys a good or pays for a service is called a ________. $200 Question Someone who buys a good or pays for a service is called a ________.

$200 Answer Consumer

Matt goes to get his haircut. Is Matt a producer or consumer? $300 Question Matt goes to get his haircut. Is Matt a producer or consumer?

$300 Answer Matt is the consumer.

Keyanna goes to McDonald’s to eat. $400 Question Keyanna goes to McDonald’s to eat. John works at McDonald’s and makes her a hamburger. Who is the producer and who is the consumer?

Keyanna is the consumer. $400 Answer John is the producer, and Keyanna is the consumer.

Farmers Growing Crops – Producers or Consumers? $500 Question Farmers Growing Crops – Producers or Consumers?

$500 Answer Producers

$100 Question Is a teacher a good or does a teacher provide a service?

$100 Answer A teacher provides a service.

$200 Question Is a computer a good or a service?

$200 Answer A computer is a good.

$300 Question Is a house a good or a service?

$300 Answer A house is a good.

$400 Question Is a nurse a good or does a nurse provide a service?

$400 Answer A nurse provides a service.

$500 Question Is an artist and the painting a good or a service?

$500 Answer The artist provides a service, and the painting is a good.

We have 24 kids in our room and $100 Question We have 24 kids in our room and only 20 cookies. What economic problem do we have?

$100 Answer Scarcity

What do you call things you must have $200 Question What do you call things you must have to survive, like food, shelter, and air?

$200 Answer Needs

$300 Question Eating Donuts from Market District – Producer or Consumer?

$300 Answer Consumer

When you make choices you have $400 Question When you make choices you have to give things up. What is the economic term for what you gave up? Ex. You chose to go to the beach, so you did not get to go to Walt Disney World.

$400 Answer Opportunity Cost

$500 Question What is a plan for how to spend your money and keep track of income called?

$500 Answer A Budget

What economic situation affects $100 Question What economic situation affects the cost of things?

$100 Answer Supply and Demand

fire departments, and roads? $200 Question What pays for schools, fire departments, and roads?

The government pays for them $200 Answer The government pays for them with taxes.

Name a choice you needed to make while planning for $300 Question Name a choice you needed to make while planning for Market Day

$300 Answer (answers vary – Maybe a choice between A good or a service To partner up or be solo)

$400 Question What if you are not selling enough at Market Day – what economic incentives could you use to get more customers?

offer buy one get one free, other answers possible Have a sale, offer buy one get one free, Give a coupon, other answers possible

If she keeps her money to use later, $500 Question Jennifer makes $200 a week. If she keeps her money to use later, she is ______ her money.

$500 Answer Saving

Final Jeopardy Explain the difference between a need and a want.

Final Jeopardy Answer A need is something you must have in order to survive. A want is something you would really like to have, but you will live without it.