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Assignment : Jeopardy (25 notes)

Assignment : Jeopardy (25 notes). Computer. JEOPARDY. Mr. Robinson. Chapter 4 + 5. Historical. JEOPARDY!. KOBE. ARTEST. GASOL. FISHER. ODOM. 100. 100. 100. 100. 100. 200. 200. 200. 200. 200. 300. 300. 300. 300. 300. 400. 400. 400. 400. 400. 500. 500. 500. 500.

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Assignment : Jeopardy (25 notes)

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  1. Assignment : Jeopardy (25 notes)

  2. Computer JEOPARDY Mr. Robinson

  3. Chapter 4 + 5 Historical JEOPARDY!

  4. KOBE ARTEST GASOL FISHER ODOM 100 100 100 100 100 200 200 200 200 200 300 300 300 300 300 400 400 400 400 400 500 500 500 500 500

  5. $100 A ________ curve is a graphic representation of a demand schedule. (82)

  6. A demand curve is a graphic representation of a demand schedule. (82) Back toGame

  7. $200 A substitute is… (88)

  8. A substitute is… (88) a good that replaces another good. Back toGame

  9. $300 A _______ good is one that consumers will demand MORE of when they make MORE money (86)

  10. A normal good is one that consumers will demand MORE of when they make MORE money (86) Back toGame

  11. $400 A good that is always used with another good is a _________. (88)

  12. A good that is always used with another good is a complement (88) Back toGame

  13. $500 Total revenue is the amount of _______ a company receives for selling goods and services (95)

  14. Total revenue is the amount of money a company receives for selling goods and services (95) Back toGame

  15. $100 The law of ______ is the tendency of suppliers to offer more of a good for a high price. (101)

  16. The law of supply is the tendency of suppliers to offer more of a good for a high price. (101) Back toGame

  17. $200 A _____ tax is a payment to the government on the production of certain goods. (118)

  18. An excise tax is a payment to the government on the production of certain goods. (118) Back toGame

  19. $300 A ______ is a government payment that supports a business or market. (117)

  20. A subsidy is a government payment that supports a business or market. (117) Back toGame

  21. $400 ________ revenue is the additional income from selling one more unit of a good. (112)

  22. Marginal revenue is the additional income from selling one more unit of a good. (112) Back toGame

  23. $500 When a person is able and willing to buy something, they create _______. (79)

  24. When a person is able and willing to buy something, they create demand (79) Back toGame

  25. $100 Inferior goods are… (87)

  26. Inferior goods are… (87) things you buy less of as you make more money Back toGame

  27. DAILY DOUBLE DAILY DOUBLE DAILY DOUBLE DAILY DOUBLE

  28. DAILY DOUBLE If future price is expected to rise, current demand will ______.

  29. If future price is expected to rise, current demand will rise. Back toGame

  30. $300 Which good has an inelastic supply (104): Apples, hats, beanbags, toothbrushes

  31. Which good has an inelastic supply (104): Apples Back toGame

  32. $400 _____ has the greatest influence on elasticity of supply.

  33. Time has the greatest influence on elasticity of supply. Back toGame

  34. $500 How is profit determined?

  35. How is profit determined? Total revenue – total cost = profit. Back toGame

  36. $100 If I was a farmer and I knew the price of my wheat I was selling would go up next month, I would… (119)

  37. If I was a farmer and I knew the price of my wheat I was selling would go up next month, I would… store it and sell it next month (119) Back toGame

  38. $200 _______ cost is the cost of making one more unit of a good. (111)

  39. Marginal cost is the cost of making one more unit of a good. (111) Back toGame

  40. $300 Elasticity of _______ shows how people change their buying patterns when prices change. (79)

  41. Elasticity of demand shows how people change their buying patterns when prices change. (79) Back toGame

  42. $400 The US is a _______ economy. (79)

  43. The US is a market economy. (79) Back toGame

  44. $500 A market ______ schedule is a chart that shows how much of a good all suppliers will offer at different prices. (103)

  45. A market supply schedule is a chart that shows how much of a good all suppliers will offer at different prices. (103) Back toGame

  46. $100 What does it mean when demand for a product is inelastic? (90)

  47. What does it mean when demand for a product is inelastic? (90) People will still buy just as much, no matter what the price. Back toGame

  48. $200 Marginal is a synonym for _________.

  49. Marginal is a synonym for additional. Back toGame

  50. $300 What is an example of using technology to lower production costs? (117)

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