© 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!

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

© Mark E. Damon - All Rights Reserved Entre. Terms Entre. Terms Needs & Wants Supply & Demand Misc. $100 $200 $300 $400 $500 Round 2 Final Jeopardy Scores Economic Decisions

© Mark E. Damon - All Rights Reserved $100 The point at which supply and demand meet

© Mark E. Damon - All Rights Reserved $100 What is equilibrium price and quantity? Scores

© Mark E. Damon - All Rights Reserved $200 Measures the disadvantages of producing one additional unit of a good or service

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

© Mark E. Damon - All Rights Reserved $300 Costs that go up and down depending on the quantity of the good or service produced

© Mark E. Damon - All Rights Reserved $300 What are variable costs? Scores

© Mark E. Damon - All Rights Reserved $400 An individual’s need or desire for a product or service at a given price

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

© Mark E. Damon - All Rights Reserved $500 Private ownership of resources by individuals

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

© Mark E. Damon - All Rights Reserved $100 Things that you think you must have in order to be satisfied is known as this

© Mark E. Damon - All Rights Reserved $100 What are wants? Scores

© Mark E. Damon - All Rights Reserved $200 The means through which goods and services are produced

© Mark E. Damon - All Rights Reserved $200 What are economic resources? Scores

© Mark E. Damon - All Rights Reserved $300 This occurs when people’s needs and wants are unlimited and resources are limited

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

© Mark E. Damon - All Rights Reserved

$400 The process of choosing which wants you will satisfy using the resources you have is known as this

© Mark E. Damon - All Rights Reserved $400 What is a economic decision making? Scores

© Mark E. Damon - All Rights Reserved $500 The value of the next best alternative – the one you must pass up

© Mark E. Damon - All Rights Reserved $500 What is opportunity cost? Scores

© Mark E. Damon - All Rights Reserved $100 There are this many questions every economy must answer

© Mark E. Damon - All Rights Reserved $100 What is 3 questions? Scores

© Mark E. Damon - All Rights Reserved $200 How much of a good or service a producer is willing to produce at different prices is commonly known as this

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

© Mark E. Damon - All Rights Reserved $300 Honda, Dodge-Chrysler, and Ford Motor Company operate under this type of market structure

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

© Mark E. Damon - All Rights Reserved $400 Product, Price, Place (Distribution), and Promotion are the four elements of this term

© Mark E. Damon - All Rights Reserved $400 What is the marketing mix? Scores

© Mark E. Damon - All Rights Reserved $500 Rent, salaries, and insurance are examples of these kind of costs incurred by a business

© Mark E. Damon - All Rights Reserved $500 What is fixed costs? Scores

© Mark E. Damon - All Rights Reserved $100 Countries like the Soviet Union used to have this type of economy

© Mark E. Damon - All Rights Reserved $100 What is a command economy? Scores

© Mark E. Damon - All Rights Reserved $200 Individuals who prepare for and enter any occupation of their choice are said to be in this type of system

© Mark E. Damon - All Rights Reserved $200 What is a free enterprise system? Scores

© Mark E. Damon - All Rights Reserved $300 This is an interchangeable term for a free enterprise system

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

© Mark E. Damon - All Rights Reserved $400 Cars, name brand clothing, and housing are examples of this specific type of want

© Mark E. Damon - All Rights Reserved $400 What is an economic want? Scores

© Mark E. Damon - All Rights Reserved $500 This terms reflects a change in price creates a change in demand

© Mark E. Damon - All Rights Reserved $500 What is elastic demand? Scores

© Mark E. Damon - All Rights Reserved $100 A nation’s plan for answering the key economic questions is known as this

© Mark E. Damon - All Rights Reserved $100 What is an economic system? Scores

© Mark E. Damon - All Rights Reserved $200 When change in price creates little change in demand it is known as this

© Mark E. Damon - All Rights Reserved $200 What is inelastic demand? Scores

© Mark E. Damon - All Rights Reserved $300 This economic system is found in countries with democratic governments

© Mark E. Damon - All Rights Reserved $300 What is a market economy? Scores

© Mark E. Damon - All Rights Reserved $400 This measures the advantages of producing one additional unit of a good or service

© Mark E. Damon - All Rights Reserved $400 What is marginal benefit? Scores

© Mark E. Damon - All Rights Reserved $500 Entrepreneurs are considered this type of resource

© Mark E. Damon - All Rights Reserved $500 What is human resource? Scores

© Mark E. Damon - All Rights Reserved $100 Land, water, diamonds, gold are examples of this kind of resource

© Mark E. Damon - All Rights Reserved $100 What are natural resources? Scores

© Mark E. Damon - All Rights Reserved $200 Money best fits this type of economic resource

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

© Mark E. Damon - All Rights Reserved $300 These two groups affect price

© Mark E. Damon - All Rights Reserved $300 Who are consumers and producers? Scores

© Mark E. Damon - All Rights Reserved $400 Private property, freedom of choice, profit, and competition are considered this

© Mark E. Damon - All Rights Reserved $400 What is the four basic principles of the U.S. economic system? Scores

© Mark E. Damon - All Rights Reserved $500 Production, marketing, management and finance describe this in business

© Mark E. Damon - All Rights Reserved $500 What is the four functions of business? Scores

© Mark E. Damon - All Rights Reserved Scores Scarcity Question Final Jeopardy Question

© Mark E. Damon - All Rights Reserved What steps do entrepreneurs need to take in the world of business and in society due to the problem of scarcity?

© Mark E. Damon - All Rights Reserved Scores Answers may vary Utilizing economic resources to determine how, when, and what to produce of a good or service (economic decision making)