Economics Review Jeopardy
Final 1 Final 2 Final 3 Final 4 Final 5
Q $100
Q $200
Q $300
Q $400
Q $500
Q $100 Q $100Q $100 Q $100
Q $200 Q $200 Q $200 Q $200
Q $300 Q $300 Q $300 Q $300
Q $400 Q $400 Q $400 Q $400
Q $500 Q $500 Q $500 Q $500
Final Jeopardy
$100 Question from Final 1
What is the value of the next best alternative that has to be given up for the action
that is chosen?
$100 Answer from Final 1
Opportunity Cost
$200 Question from Final 1
Businesses can make decisions about the best use of their resources by
analyzing what?
$200 Answer from Final 1
Production Possibilities
$300 Question from Final 1
What is a messenger service’s car an example
of?
$300 Answer from Final 1
Capital
$400 Question from Final 1
Adam Smith’s “invisible hand” refers to the role of
the _______.
$400 Answer from Final 1
Market
$500 Question from Final 1
What is the major characteristic of a pure
market economy?
$500 Answer from Final 1
Unrestricted Competition
$100 Question from Final 2
What does the term “equity” mean?
$100 Answer from Final 2
Fairness
$200 Question from Final 2
What is the term for the ability to start new
business and take risks?
$200 Answer from Final 2
Entrepreneur
$300 Question from Final 2
Which type of economy answers the three basic
economic questions according to customs?
$300 Answer from Final 2
Traditional Economies
$400 Question from Final 2
What type of economy does North Korea have?
$400 Answer from Final 2
Command Economy
$500 Question from Final 2
Generic products are those that _____________.
$500 Answer from Final 2
Have no brand name.
$100 Question from Final 3
What is a promise to repair or replace a faulty product?
$100 Answer from Final 3
Warranty
$200 Question from Final 3
According to the law of demand, higher prices prompt consumers to
___________.
$200 Answer from Final 3
Buy Less
$300 Question from Final 3
What type of advertising simply informs the consumer about the price of a product?
$300 Answer from Final 3
Informative Advertising
$400 Question from Final 3
What is the term for money that can be saved or spent
after paying for necessities?
$400 Answer from Final 3
Disposable Income
$500 Question from Final 3
What is the law setting the maximum interest rate?
$500 Answer from Final 3
Usury Law
$100 Question from Final 4
What is the term for a good that lasts a number of years?
$100 Answer from Final 4
Durable Good
$200 Question from Final 4
According to the law of demand, price and quantity demanded have a ______
relationship.
$200 Answer from Final 4
Opposite (inverse)
$300 Question from Final 4
Automobile liability insurance covers
____________ and ______________.
$300 Answer from Final 4
Bodily Injury andProperty Damage
$400 Question from Final 4
What is one advantage of purchasing a franchise?
$400 Answer from Final 4
Franchisers help set up and often provide training
$500 Question from Final 4
What is a limited partnership?
$500 Answer from Final 4
A partnership where one partner bears no
interest.
$100 Question from Final 5
Non-price competition is a characteristic of ________
and _____________.
$100 Answer from Final 5
Monopolistic Competition and Oligopoly
$200 Question from Final 5
What does market structure describe?
$200 Answer from Final 5
The amount of competition on the market
$300 Question from Final 5
Why was the Federal Reserve created?
$300 Answer from Final 5
To control the amount of money in circulation
$400 Question from Final 5
What is representative money?
$400 Answer from Final 5
Money that is backed by a valuable item, such as gold
$500 Question from Final 5
Name an example of antitrust legislation.
$500 Answer from Final 5
Clayton Act
Final Jeopardy
Loose money policy leads to an increase in what?
Final Jeopardy Answer
Inflation