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Template byBill Arcuri, WCSD
Click Once to BeginJEOPARDY!Free Enterprise
Template byBill Arcuri, WCSD
JEOPARDY!
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Facets Profit CompetitionGovernment
IntervenesTaxes Odds/Ends
Template byBill Arcuri, WCSD
“This facet allows us to make our own choices about what
we buy, when we go into business, types of jobs we
strive for, etc .”
What is Freedom of Choice ?
Template byBill Arcuri, WCSD
“This facet encourages us to go into business
for ourselves .”
What is the Profit Motive?
Template byBill Arcuri, WCSD
What is Limited Government Control?
“This facet results in little regulation or interference .”
Template byBill Arcuri, WCSD
“This facet determines the prices of goods & services
in our economy .”
What is the Open Market (Supply & Demand)?
Template byBill Arcuri, WCSD
“This facet makes us lower our prices and
improve our service to the customer .”
What is Competition?
Template byBill Arcuri, WCSD
“The money it takes to get merchandise into our
store.”
What are Costs ?
Template byBill Arcuri, WCSD
“The money it takes to run or operate our
business.”
What are Business Expenses (Overhead) ?
Template byBill Arcuri, WCSD
“The amount of money we make after just the cost of
goods is subtracted.”
What is Gross Profit ?
Template byBill Arcuri, WCSD
“The amount of money we make after the cost of goods
and business expenses (overhead) are subtracted.”
What is Net Profit?
Template byBill Arcuri, WCSD
“The amount of money a business takes in from the
sales of its goods and services.”
What is Income ?
Template byBill Arcuri, WCSD
“A rivalry between two or more companies to attract
customer’s scarce or limited dollars.”
What is Competition ?
Template byBill Arcuri, WCSD
“As customers, we enjoy certain things because of competition. They include:
1. New products2. Lower Prices3. Better Customer Service4. Higher quality
These are called __________.”
What are Benefits ?
Template byBill Arcuri, WCSD
“If there is no competition, a company is said to have this.”
What is a Monopoly ?
Template byBill Arcuri, WCSD
“Exxon lowered its price of gas last week; Shell followed suit the following day. That’s
a good example of this.”
What is Price Competition ?
Template byBill Arcuri, WCSD
“A bowling alley wants the same limited customer dollars as a movie theater. This is a
good example of this.”
What is Non-price or Indirect competition ?
Template byBill Arcuri, WCSD
“This 1890 Act outlaws agreements that would promote
monopolies.”
What is the Sherman Anti-Trust Act ?
Template byBill Arcuri, WCSD
“This government agency regulates electronic media
such as TV, radio, cable, etc.”
What is the Federal Communication Commission
(FCC). ?
Template byBill Arcuri, WCSD
What is Occupational Safety & Health Administration
(OSHA) ?
“This government agency watches out for workers
to make sure they are safe on the job.”
Template byBill Arcuri, WCSD
“This government agency regulates the sales of
stocks & bonds.”What is the Securities & Exchange Commission
(SEC) ?
Daily Double!!!
Template byBill Arcuri, WCSD
“This type of law protects a company’s
symbols or name.”
What is Trademark ?
Template byBill Arcuri, WCSD
“A tax that is levied against the money someone makes.”
What are Income Taxes ?
Template byBill Arcuri, WCSD
“A tax that is levied against the money taken in by a
business for the selling of a good or service.”
What is a Sales Tax ?
Template byBill Arcuri, WCSD
“A tax that is levied based on the value of
your home, car, or other possession.”
What are Property Taxes ?
Template byBill Arcuri, WCSD
“This type of tax hurts the poorest members of our
country the most.”
What is a Regressive Tax ?
Template byBill Arcuri, WCSD
“A tax that is levied against a business is paid for by these
people.”
Who are the Customers ?
Template byBill Arcuri, WCSD
“The gamble a person takes when he/she
decides to invest their money in a business.”
What is Risk ?
Template byBill Arcuri, WCSD
“We could:
1. Increase Sales2. Increase Productivity3. Increase Efficiency
. . . if we want to do this.”
What is Increase Profits ?
Template byBill Arcuri, WCSD
“Laws that dictate how a piece of property can be used by a
business. In other words, what type of business can be
located where.”
What is Zoning ?
Template byBill Arcuri, WCSD
“This is required to work in or operate certain
types of businesses.”
What is a License ?
Template byBill Arcuri, WCSD
“This act outlawed false or misleading advertising.”
What is the Wheeler-Lea Act ?
