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Last Chance Business Organiz. The Marketplace Micro economics Supply- Side Econology

Negative media attention like, “Advil causes heart disease” causes a change in ________. And what direction would it shift? A 100

When gov. establishes price ceilings, they are trying to help whom? A 200

According to Adam Smith, what motivates the choices individuals make about how to use their resources? A 300

The dollar amount of all goods and services and structures produced within a country’s borders within a year A 400

A 500 We have this type of an economy.

A company that owns at least 4 businesses, each making unrelated products B 100

What web-site would you use to find out about a good job or college? B 200 Give an example of a commodity

A product is considered elastic if it… B 300

The only difference b/t perfect competition and monopolistic competition is B 400

According to our text, free markets encourage this, while command economies generally don’t. B 500

When considering how much to price a good or service, the entrepreneur must factor in this/these. C 100

In this type of economy, consumers decide how to spend their incomes and producers respond to profit incentives. C 200

How would internet selling affect prices? C 300

DAILY DOUBLE C 400 DAILY DOUBLE Place A Wager

Payments made to shareholders from the profits of the corporation C 400

Two reasons multinational corporations build factories in other countries C 500

A PPC graphically shows… D 100

The price paid for the use of another’s money D 200

How do technological advancements affect supply? D 300

The concept that a second or third product is not as “useful” as the first one. D 400

Change in population, change in consumer taste, change in price of substitutes or compliments, future expectations D 500

E 100 What is one basic economic question that involves making choices?

Give an example of a capital factor of production. E 200

Total cost for suppliers is the sum of fixed costs and _______ costs. E 300

This is a person who takes risks and has a vision for starting a new business. E 400

E 500 If the price of milk is artificially set above market equilibrium, what will result?

Gov. decides to increase spending on military goods at the expense of civilian goods. This is an example of what basic economic term? F 100

A price that produces neither a shortage nor a surplus F 200

In this type of market structure it is possible for companies to collude or keep new competition out. F 300

When a third party is affected by a business transaction. The third party could be affected positively or negatively. F 400

Government permission to incorporate or create a corporation. F 500

The Final Jeopardy Category is: Please record your wager. Click on screen to begin

One reason for government involvement in the U.S. economy is to promote and encourage __________. (hint: it’s why they didn’t allow AT&T to merge with T-Mobile) Click on screen to continue

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