1. Intro to Business Final Jeopardy!!!! The final is 120 points Mixture of Matching, Mini Matching, and Short Answer

2. Unit 1Unit 2Unit 3Unit 1 x2Hodgepodge 200 400 600 800 2000 Right Side of Room CenterLeft Side of Room Final Jeopardy

3. Question: Unit 1 200 Points An economy that is controlled by a central authority is known as

4. Answer: Unit 1 200 Points What is Command Economy Know Market, Traditional, and Mixed

5. Question: Unit 1 400 Points What happens to price when supply goes down?

6. Answer: Unit 1 400 Points What is Goes up

7. Question: Unit 1 600 Points Define GDP?

8. Answer: Unit 1 600 Points What is Total value of all final goods and services produced in a country during one year (Gross Domestic Product)

9. Question: Unit 1 800 Points There are 4 parts of the business cycle, list them

10. Answer: Unit 1 800 Points What is Recession, Depression, Recovery, Peak

11. Question: Unit 1 2000 Points What is the difference between a deficit and debt

12. Answer: Unit 1 2000 Points What is Deficit is a budget shortfall Debt is all money owed

13. Question: Unit 2 200 Points Someone who takes a risk in starting a business to earn a profit

14. Answer: Unit 2 200 Points What is an Entrepreneur

15. Question: Unit 2 400 Points A business that is owned by two or more individual

16. Answer: Unit 2 400 Points What is a partnership Know the other two types of business ownership: Corporation and Sole Proprietor

17. Question: Unit 2 600 Points What is Michigans adult minimum wage?

18. Answer: Unit 2 600 Points What is $7.40 U.S. Minimum wage is $7.25 Which would you be paid if they differ? The higher of the two

19. Question: Unit 2 800 Points Name 3 of the 7 groups that are protected from discrimination

20. Answer: Unit 2 800 Points What is 1. Age (over 40) 2. Race 3. Sex Religion 4. National Origin 5. Disability 7. Pregnancy

21. Question: Unit 2 2000 Points If a boss maintains tight control which leadership style are they using?

22. Answer: Unit 2 2000 Points What is Tactical, Autocratic, Dictatorship Know the Others: Strategic or Participative, Delegate or Free Rein and Mixed or Situational

23. Question: Unit 3 200 Points Explain the target market for the Ford Super duty truck

24. Answer: Unit 3 200 Points What are Males, Middle Aged, Need to move lots of items, Have money

25. Question: Unit 3 400 Points What is the difference between custom and mass manufacturing

26. Answer: Unit 3 400 Points What is Items made for an individual vs. large number of identical products

27. Question: Unit 3 600 Points Research done without a specific product in mind with the goal of discovering new solutions to problems

28. Answer: Unit 3 600 Points What is Pure Research

29. Question: Unit 3 800 Points What is the accounting equation

30. Answer: Unit 3 800 Points What is Assets = Liabilities + Owners Equity

31. Question: Unit 3 2000 Points What are the three categories shown on the Income Statement

32. Answer: Unit 3 2000 Points What is Gross Income or Revenue Expenses Net Income or Earnings

33. Question: Unit 1 x2 200 Points Which is the supply curve?

34. Answer: Unit 1 x2 200 Points What is A

35. Question: Unit 1 x2 400 Points What is a multinational corporation

36. Answer: Unit 1 x2 400 Points What is A company that is in many countries

37. Question: Unit 1 x2 600 Points What are ethics?

38. Answer: Unit 1 x2 600 Points What is Principles of morality or rules of conduct

39. Question: Unit 1 x2 800 Points Define unemployment rate

40. Answer: Unit 1 x2 800 Points What is Individuals over 16 that are actively looking for work Know other economic indicators: Inflation, balance of trade, balance of payments, exchange rate, etc.

41. Question: Unit 1 x2 2000 Points Government-set limit on the quantity of a product that may be imported or exported within a given period

42. Answer: Unit 1 x2 2000 Points What is a Quota Know other trade terms such as Embargo, Free Trade Agreements, Tariff

43. Question: Hodgepodge 200 Points Name two benefits you can receive from employment besides pay

44. Answer: Hodgepodge 200 Points What is Retirement funds, insurance, free stuff (car, clothing, phone), etc.

45. Question: Hodgepodge 400 Points Is pasteurized milk A.Extraction and Cultivation B.Processing C. Manufacturing

46. Answer: Hodgepodge 400 Points What is B. Processing

47. Question: Hodgepodge 600 Points All resources fall into three categories A.Capital B.Human C.Natural What would a building be considered?

48. Answer: Hodgepodge 600 Points What is A. Capital

49. Question: Hodgepodge 800 Points An economy in which goods and services are produced the way they have always been produced.

50. Answer: Hodgepodge 800 Points What is a Traditional Economy

51. Question: Hodgepodge 2000 Points Separate legal entity formed by documents filed with a state, it is owned by one or more shareholders and managed by a board of directors

52. Answer: Hodgepodge 2000 Points What is a Corporation

53. Final Jeopardy – Make your Wager

54. Final Jeopardy Question List and explain three of the economic indicators

55. Final Jeopardy Answer What is 1.Unemployment rate 2.Consumer spending / saving 3.Inflation / deflation 4.Interest rate 5.Balance of trade / balance of payments 6.Exchange rate