2. Jeopardy Trade Terms Productive Resources Key Econ Terms Extras Q $100 Q $200 Q $300 Q $400 Q $500 Q $100 Q $200 Q $300 Q $400 Q $500 Final Jeopardy Econ Part 1

3. $100 Government decides what you can make and how much you will sell it for.

4. $100 What is Command Economy?

5. $200 Free! Business owner decides what he/she will make and how much it will sell for

6. $200 What is Market Economy?

7. $300 All three economic systems; Traditional, Command & Market are known as…

8. $300 What is a Mixed Economy?

9. $400 system in which social roles and culture determines how goods are made, sold and bought

10. $400 What is a Traditional Economy?

11. $500 The U.K, Russia, Germany and the U.S all have this type of economy

12. $500 What is a Mixed Economy?

13. $100 Limit on the amount of something that may be imported during a period of time.

14. $100 What is a Quota ?

15. $200 Tax charged for goods or services brought into a state or country.

16. $200 What is Tariff?

17. $300 Gov’t. places restrictions of imports & exports of goods. Often backed by a military.

18. $300 Who is an Embargo?

19. $400 Gov’t. limits free trade between countries. Can also be a physical feature (ex. Mountains) or climate (ex. Hurricane)..

20. $400 What is a Trade Barrier?

21. $500 Exchange of goods and services between Countries around the world

22. $500 What is International Trade?

23. $100 Raw materials used to make goods

24. $100 What are Natural Resources?

25. $200 someone who brings together labor, land and capital goods to produce goods and services.

26. $200 What is an Entrepreneur?

27. $300 This is smart & skilled workers who are more productive

28. $300 What is Human Capital ?

29. $400 These are resources such as factories, machines, & tools people use to make goods

30. $400 What are Capital Goods?

31. $500 All of the following are questions a nation must answer to build an economy EXCEPT: 1 what to produce 2. who is going to produce it 3. how to produce 4. for whom to produce

32. $500 What is #2 Who is going to produce it?

33. $100 The percentage % of people who can read in a certain country.

34. $100 What is Literacy Rate?

35. $200 The price of a good rises and falls depending on how many people want it and how much is available.

36. $200 What is Supply and Demand?

37. $300 Total value of goods and services produced in a country during a period of time.

38. $300 What is Gross Domestic Product (GDP)?

39. $400 Conflict between what people want and what resources are available. (ex. We may all want a new I-phone six, but there isn’t enough metals available to make 35 of them)

40. $400 What is Scarcity?

41. $500 Using your income today in a way that invests in growth in the future.

42. $500 What is Investment?

43. $100 Money from different countries is bought and sold for a price.

44. $100 What is Currency Exchange?

45. $200 Increase in value of all goods and services a country makes from 1 year to another.

46. $200 What is Economic Growth?

47. $300 Goods traded or sold to other countries

48. $300 What are Exports ?

49. $400 Goods brought into country from another country.

50. $400 What are Imports?

51. $500 Being a member of the European Union provides all EXCEPT: 1. one common currency 2. more human capital for your country 3. more trade partners 4. more economic and financial stability

52. $500 What is more Human Capital For your country?

53. Final Jeopardy Private businesses are part of command economies? 1. TRUE 2. FALSE

54. Final Jeopardy Answer 2. FALSE