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JeopardyJeopardyTrue/False True/False Economies Terms
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Final Jeopardy
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$100 Question from True/False$100 Question from True/False
A compact disc player is an example of a need—True or False?
$100 Answer from True/False$100 Answer from True/False
What is False.
$200 Question from True/False$200 Question from True/False
Tangible products you can purchase to meet your wants and needs are
called goods—True or False?
$200 Answer from True/False$200 Answer from True/False
What is True.
$300 Question from True/False$300 Question from True/False
When you decide to buy a jacket instead of a concert ticket, you are making a tradeoff—True or False?
$300 Answer from True/False$300 Answer from True/False
What is True.
$400 Question from True/False$400 Question from True/False
A period in which unemployment begins to rise, demand begins to decrease and
businesses lower production is called recovery—True or False?
$400 Answer to True/False$400 Answer to True/False
What is False.
$500 Question from True/False$500 Question from True/False
The market price for a product is the point where demand is greater than
supply—True or False?
$500 Answer to True/False$500 Answer to True/False
What is False.
$100 Question from True/False$100 Question from True/False
In the early 1890s, the average employee in the United States
worked about 60 hours per week—True or False?
$100 Answer from True/False$100 Answer from True/False
What is True.
$200 Question from True/False$200 Question from True/False
Dividing GDP by the total population of a country results in that country’s
GDP per capita—True or False?
$200 Answer from True/False$200 Answer from True/False
What is True.
$300 Question from True/False$300 Question from True/False
The basic economic problem is having unlimited wants and needs but limited economics resources—True
or False?
$300 Answer from True/False$300 Answer from True/False
What is True.
$400 Question from True/False$400 Question from True/False
Water, air and minerals are examples of capital resources—True or False?
$400 Answer to True/False$400 Answer to True/False
What is False.
$500 Question from True/False$500 Question from True/False
Movement of the economy from one condition to another is called the business cycle—True or False?
$500 Answer to True/False$500 Answer to True/False
What is True.
$100 Question from $100 Question from EconomiesEconomies
Resources are owned and controlled by the people of the country.
$100 Answer from Economies$100 Answer from Economies
What is a market economy?
$200 Question from $200 Question from EconomiesEconomies
The government decides what and how goods are produced.
$200 Answer from Economies$200 Answer from Economies
What is a command economy?
$300 Question from $300 Question from EconomiesEconomies
Workers often use hand tools and readily available natural resources.
$300 Answer from Economies$300 Answer from Economies
What is a traditional economy?
$400 Question from $400 Question from EconomiesEconomies
A system that combines market, traditional and command economies.
$400 Answer to Economies$400 Answer to Economies
What is a mixed economy?
$500 Question from $500 Question from EconomiesEconomies
Capitalism, private enterprise and free enterprise are other names for
this economic system.
$500 Answer to Economies$500 Answer to Economies
What is a market economy?
$100 Question from Terms$100 Question from Terms
A nation’s plan for answering the three economic questions.
$100 Answer from Terms$100 Answer from Terms
What is the economic system?
$200 Question from Terms$200 Question from Terms
Businesses that offer very similar products to the same customers.
$200 Answer from Terms$200 Answer from Terms
Who are competitors?
$300 Question from Terms$300 Question from Terms
A person who buys and uses goods and services.
$300 Answer from Terms$300 Answer from Terms
Who is a consumer?
$400 Question from Terms$400 Question from Terms
When the government spends more than it takes in.
$400 Answer to Terms$400 Answer to Terms
What is a budget deficit?
$500 Question from Terms$500 Question from Terms
Money spent by a business for an item (such as land, buildings or
equipment) that will be used over a long period.
$500 Answer to Terms$500 Answer to Terms
What is capital spending or capital projects?
$100 Question from Measure$100 Question from Measure
Compares the prices of a group of selected items each year to some
earlier year.
$100 Answer from Measure$100 Answer from Measure
What is the CPI
(Consumer Price Index)?
$200 Question from Measure$200 Question from Measure
The total dollar value of all final goods and services produced each
year in a country.
$200 Answer from Measure$200 Answer from Measure
What is the GDP
(Gross Domestic Product)?
$300 Question from Measure$300 Question from Measure
Monthly measure of the sales of durable and nondurable goods bought
by consumers.
$300 Answer from Measure$300 Answer from Measure
What is retail sales?
$400 Question from Measure$400 Question from Measure
Refers to salaries and wages as well as investment income and government payments
to individuals.
$400 Answer to Measure$400 Answer to Measure
What is personal income?
$500 Question from Measure$500 Question from Measure
The percentage of people in the labor force who are willing to work, are looking for work but are unable to
find work.
$500 Answer to Measure$500 Answer to Measure
What is the unemployment rate?
Final Jeopardy QuestionFinal Jeopardy Question
The age when a person is considered to be part of the labor force.
Final Jeopardy AnswerFinal Jeopardy Answer
What is 16?
