2. $100
$100
$100
$100
$100
$200
$200
$200
$200
$200
$300
$300
$300
$300
$300
$400
$400
$400
$400
$400
$500
$500
$500
$500
$500

3. Prices as Signals

4. Predicting Prices

5. Distorting Prices

6. Agricultural Price Supports

7. Vocabulary

8. Prices as
Signals
Predicting
Prices
Distorting
Prices
Agricultural
Price Supports
Vocabulary $
$100
$100
$100
$100
$100
$200
$200
$200
$200
$200
$300
$300
$300
$300
$300
$400
$400
$400
$400
$400
$500
$500
$500
$500
$500

9. C 1 - $100
Situation where the quantity demanded is equal to the quantity supplied

10. Price where the quantity supplied equals the quantity demanded

11. Situation where quantity supplied is greater than quantity demanded
C 1 - $300
Situation where
quantity supplied
is greater than
quantity demanded
at a given price

12. Situation where quantity demanded
C 1 - $400
Situation where quantity demanded
is greater than
quantity supplied
at a given price

13. In a market economy a high price is a signal for…

14. In a competitive market economy markets tend to
run themselves to find this

15. Term used to describe when a farmer grows
a better than
anticipated yield

16. C 2 - $300
In the graph which curve represents the “bumper crop” yield for soybeans?

17. What is the equilibrium price for the “worst case”
yield of soybeans?

18. Why do the changes in supply affect prices more in graph A?
Graph A Graph B

19. Ticket that entitles the holder to a certain amount of a product

20. C 3 - $200
Maximum legal price
that can be charged
for a product

21. C 3 - $300
Lowest legal price
that can be paid
for a product

22. C 3 - $400
Lowest legal wage
that can be paid
to most workes

23. C 3 - $500
The federal minimum wage law demonstrates a trade-off between which two Socio-economic goals?

24. Price floor set to stabilize farm prices

25. C 4 - $200
Check sent to producers that makes up the difference between the actual market price and the target price

26. that caries no penalty or further obligation
Agricultural loan
that caries no penalty or further obligation
if not repaid

27. This government agency established a target price to stabilize
farm prices

28. This 1985 program paid farmers not to farm
C 4 - $500
This 1985 program paid farmers not to farm

29. Monterey value of a product as determined by supply and demand

30. A simplified version of
C 5 - $200
A simplified version of
a complex behavior
expressed in the form
of an equation, graph,
or illustration

31. product’s original price
Partial refund of a
product’s original price

32. goods and services without prices
System of allocating
goods and services without prices

33. C 5 - $500
A dificiency payment is an example of a government payment to encourage an economic activity - which is called this economic term

34. C 1 A - $100
Market Equilibrium $

35. C 1 A - $200
Equilibrium Price $

36. C 1 A - $300
Surplus $

37. C 1 A - $400
Shortage $

38. Producers to supply more and consumers to buy less
C 1 A - $500
Producers to supply more and consumers to buy less $

39. C 2 A - $100
Equilibrium or
Market Equilibrium $

40. C 2 A - $200
Bumper Crop $

41. C 2 A - $300
Curve S1 $

42. C 2 A - $400
$10 a
bushel $

43. The Demand Curve “A” is Inelastic
C 2 A - $500
The Demand Curve “A” is Inelastic
Graph A Graph B $

44. C 3 A - $100
Ration Coupon $

45. C 3 A - $200
Price Ceiling $

46. C 3 A - $300
Price Floor $

47. C 3 A - $400
Minimum Wage $

48. C 3 A - $500
Economic Equity
Over
Economic Efficiency $

49. C 4 A - $100
Target Price
                                            $

50. C 4 A - $200
Deficiency
Payment $

51. C 4 A - $300
Non-Recourse Loan $

52. Commodity Credit Corporation (ccc)
C 4 A - $400
Commodity Credit Corporation (ccc) $

53. Conservation Reserve Program or Conservation Land Banks
C 4 A - $500
Conservation Reserve Program or
Conservation Land Banks $

54. C 5 A - $100
Price $

55. C 5 A - $200
Economic Model $

56. C 5 A - $300
Rebate $

57. C 5 A - $400
Rationing $

58. C 5 A - $500
Subsidy $

60. FJ Topic
Price
Supports $

61. FJ Question
The Commodity Credit Corporation is an agency within which Federal Government Department $

62. Department Of Agriculture
FJ Ans
Department Of
Agriculture $

63. END OF GAME