1. Jeopardy Final Jeopardy Costs Wild Card $100 $100 $100 $100 $100 $200
Business Firms
Costs
Market Structure
Labor Unions
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Final Jeopardy

2. 1 - $100 Name two traits of a sole proprietorship
Owned by 1 person, this person makes all decisions, and this person is responsible for all debts

3. 1 - $200
This type of firm is owned by more than one person and has limited liability
Partnerships

4. 1 - $300
The person who makes a deal of GIVING a franchise
Franchisor

5. 1 - $400 This type of firm conducts business in its own name
Corporations

6. 1 - $500 Explain limited liability and how it relates to assets
Type answer to appear with a mouse-click here

7. 2 - $100
A sum of fixed and variable costs
Total Costs

8. 2 - $200
Examples: Rent, Flat Tax, and Insurance prices
Fixed cost

9. 2 - $300 Give 3 examples of variable costs
Answers could include: Shipping, Repairs, Raw materials, amount of inventory, décor for a business.

10. 2 - $400 How do you find Marginal Costs?
Change in total cost/Change in quantity

11. 2 - $500 How do you find if you had a profit or a loss
Subtracting total cost from total revenue

12. 3 - $100 Name 2 traits of a monopoly
One seller, no close substitutes, High barriers to entry, or high price control

13. 3 - $200
This type of market structure that is classified by identical goods
Perfectly competitive

14. 3 - $300 This structure is classified by having a few sellers.
Oligopoly

15. 3 - $400 Give an example of monopolistic competitive markets
Fast food, clothing, airlines, bus travel.

16. 3 - $500 Type question to appear here
Type answer to appear with a mouse-click here

17. 4 - $100
A group of collective voices for workers rights
A union

18. 4 - $200 Give an example of government regulation in the workplace?
Fire extinguishers, sprinklers, fire escape plans must be practiced, basic cleanliness, and doors that open outward

19. 4 - $300
If compromises cannot be reached between unions and employers what could happen
Strike

20. 4 - $400
Why might a union be more successful then one or two workers asking for change
Shows collective agreement among workers, workers could be fired, or it seems to have a stronger backing

21. 4 - $500 Give 2 examples of careers that might be in a union
Teachers, construction workers, lawyers, for the most part many careers that have many workers earning wages.

22. 5 - $100 Name 1 of the 2 factors of productivity
Demand for your service, your own productivity

23. 5 - $200
Explain why perfectly competitive markets have to make minimal profits.
With such high competition and easy exit, if a company increased a product cost for something that people can get elsewhere, people will find a substitute

24. 5 - $300 Give 2 examples of nonmoney benefits
Vacation, job satisfaction, good work relationships, productive bosses, mental health days, etc.

25. 5 - $400
Marginal Revenue=
Change in total revenue/ total output sold

26. 5 - $500 Explain the role of anti-trust laws
Increase competition, help small businesses, curve monopolies.

27. Final Jeopardy Type question to appear here
Type answer to appear with a mouse-click here