Template by Bill Arcuri, WCSD Click Once to Begin JEOPARDY! Free Enterprise

Template by Bill Arcuri, WCSD JEOPARDY! FacetsProfit Competition Government Intervenes TaxesOdds/Ends

Template by Bill Arcuri, WCSD Daily Double Graphic and Sound Effect! DO NOT DELETE THIS SLIDE! Deleting it may cause the game links to work improperly. This slide is hidden during the game, and WILL not appear. In slide view mode, copy the above (red) graphic (click once to select; right click the border and choose “copy”). Locate the answer slide which you want to be the daily double Right-click and choose “paste”. If necessary, reposition the graphic so that it does not cover the answer text. Daily Double!!!

Template by Bill Arcuri, WCSD “This facet allows us to make our own choices about what we buy, when we go into business, types of jobs we strive for, etc.” What is Freedom of Choice ?

Template by Bill Arcuri, WCSD “This facet encourages us to go into business for ourselves.” What is the Profit Motive?

Template by Bill Arcuri, WCSD What is Limited Government Control? “This facet results in little regulation or interference.”

Template by Bill Arcuri, WCSD “This facet determines the prices of goods & services in our economy.” What is the Open Market ( Supply & Demand )?

Template by Bill Arcuri, WCSD “This facet makes us lower our prices and improve our service to the customer.” What is Competition?

Template by Bill Arcuri, WCSD “The money it takes to get merchandise into our store.” What are Costs ?

Template by Bill Arcuri, WCSD “The money it takes to run or operate our business.” What are Business Expenses (Overhead) ?

Template by Bill Arcuri, WCSD “ The amount of money we make after just the cost of goods is subtracted.” What is Gross Profit ?

Template by Bill Arcuri, WCSD “The amount of money we make after the cost of goods and business expenses (overhead) are subtracted.” What is Net Profit?

Template by Bill Arcuri, WCSD “The amount of money a business takes in from the sales of its goods and services.” What is Income ?

Template by Bill Arcuri, WCSD “A rivalry between two or more companies to attract customer’s scarce or limited dollars.” What is Competition ?

Template by Bill Arcuri, WCSD “As customers, we enjoy certain things because of competition. They include: 1. New products 2. Lower Prices 3. Better Customer Service 4. Higher quality These are called __________.” What are Benefits ?

Template by Bill Arcuri, WCSD “If there is no competition, a company is said to have this.” What is a Monopoly ?

Template by Bill Arcuri, WCSD “Exxon lowered its price of gas last week; Shell followed suit the following day. That’s a good example of this.” What is Price Competition ?

Template by Bill Arcuri, WCSD “A bowling alley wants the same limited customer dollars as a movie theater. This is a good example of this.” What is Non-price or Indirect competition ?

Template by Bill Arcuri, WCSD “This 1890 Act outlaws agreements that would promote monopolies.” What is the Sherman Anti- Trust Act ?

Template by Bill Arcuri, WCSD “This government agency regulates electronic media such as TV, radio, cable, etc.” What is the Federal Communication Commission (FCC). ?

Template by Bill Arcuri, WCSD What is Occupational Safety & Health Administration (OSHA) ? “This government agency watches out for workers to make sure they are safe on the job.”

Template by Bill Arcuri, WCSD “This government agency regulates the sales of stocks & bonds.” What is the Securities & Exchange Commission (SEC) ? Daily Double!!!

Template by Bill Arcuri, WCSD “This type of law protects a company’s symbols or name.” What is Trademark ?

Template by Bill Arcuri, WCSD “A tax that is levied against the money someone makes.” What are Income Taxes ?

Template by Bill Arcuri, WCSD “A tax that is levied against the money taken in by a business for the selling of a good or service.” What is a Sales Tax ?

Template by Bill Arcuri, WCSD “ A tax that is levied based on the value of your home, car, or other possession.” What are Property Taxes ?

Template by Bill Arcuri, WCSD “This type of tax hurts the poorest members of our country the most.” What is a Regressive Tax ?

Template by Bill Arcuri, WCSD “A tax that is levied against a business is paid for by these people.” Who are the Customers ?

Template by Bill Arcuri, WCSD “The gamble a person takes when he/she decides to invest their money in a business.” What is Risk ?

Template by Bill Arcuri, WCSD “We could: 1. Increase Sales 2. Increase Productivity 3. Increase Efficiency... if we want to do this.” What is Increase Profits ?

Template by Bill Arcuri, WCSD “Laws that dictate how a piece of property can be used by a business. In other words, what type of business can be located where.” What is Zoning ?

Template by Bill Arcuri, WCSD “This is required to work in or operate certain types of businesses.” What is a License ?

Template by Bill Arcuri, WCSD “This act outlawed false or misleading advertising.” What is the Wheeler-Lea Act ?