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Jeopardy

Jeopardy. Circular Flow/Money. Economic Systems. Supply. Demand. Vocabulary . Q $100. Q $100. Q $100. Q $100. Q $100. Q $200. Q $200. Q $200. Q $200. Q $200. Q $300. Q $300. Q $300. Q $300. Q $300. Q $400. Q $400. Q $400. Q $400. Q $400. Q $500. Q $500. Q $500. Q $500.

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Jeopardy

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  1. Jeopardy Circular Flow/Money Economic Systems Supply Demand Vocabulary Q $100 Q $100 Q $100 Q $100 Q $100 Q $200 Q $200 Q $200 Q $200 Q $200 Q $300 Q $300 Q $300 Q $300 Q $300 Q $400 Q $400 Q $400 Q $400 Q $400 Q $500 Q $500 Q $500 Q $500 Q $500

  2. $100 Question from Vocabulary. A ______________ is a good/service that can replace another good/service.

  3. $100 Answer from Vocabulary. Substitute

  4. $200 Question from Vocabulary. A______________ is a good/service that is often bought with another good/service.

  5. $200 Answer from Vocabulary. Compliment

  6. $300 Question from Vocabulary. The ______________ _____ ______________ is an inverse relationship between the quantity demanded and price.

  7. $300 Answer from Vocabulary. Law of Demand

  8. $400 Question from Vocabulary. The ______________ ______ ______________ is a positive relationship between the quantity supplied and the price of the product.

  9. $400 Answer from Vocabulary. Law of Supply

  10. $500 Question from Vocabulary. This is the total of all individual demands in a given market at a particular time.

  11. $500 Answer from Vocabulary. Market Demand

  12. $100 Question from Circular Flow/Money. The circular flow model leaves out government, the money that consumers earn and ______________.

  13. $100 Answer from Circular Flow/Money. Investments

  14. $200 Question from Circular Flow/Money. What can be used as money?

  15. $200 Answer from Circular Flow/Money. Anything that can be given a “value”

  16. $300 Question from Circular Flow/Money. What is the definition of “household?”

  17. $300 Answer from Circular Flow/Money. People who participate in the economy and live in the U.S.

  18. $400 Question from Circular Flow/Money. What do the inside arrows represent?

  19. $400 Answer from Circular Flow/Money. Flow of money

  20. $500 Question from Circular Flow/Money. What do the outside arrows represent?

  21. $500 Answer from Circular Flow/Money. Flow of products

  22. $100 Question from Economic Systems. This means that prices do not fluctuate significantly in short periods of time.

  23. $100 Answer from Economic Systems. Price Stability

  24. $200 Question from Economic Systems. This means fairness and impartiality in an economy.

  25. $200 Answer from Economic Systems. Economic Equity

  26. $300 Question from Economic Systems. Because we have _______________ _______________ we are able to make choices of our employment, use of our time, and our purchases.

  27. $300 Answer from Economic Systems. Economic Freedom

  28. $400 Question from Economic Systems. This is the increase in output in an economy during a given year.

  29. $400 Answer from Economic Systems. Economic growth

  30. $500 Question from Economic Systems. This economic concept means that the basic needs of every person should be met.

  31. $500 Answer from Economic Systems. Economic Security

  32. $100 Question from Demand. What is the market demand at $5.00?

  33. $100 Answer from Demand. 20

  34. $200 Question from Demand. What is the market demand at $7.00?

  35. $200 Answer from Demand. 33

  36. $300 Question from Demand. Which is an elastic demand graph? A B C D

  37. $300 Answer from Demand. A

  38. $400 Question from Demand. Which is a non-elastic demand graph? A B C D

  39. $400 Answer from Demand. D

  40. $500 Question from Demand. Does this show an increase or decrease in demand? D2 D1

  41. $500 Answer from Demand. Increase

  42. $100 Question from Supply. Which is an elastic supply graph? A B C D

  43. $100 Answer from Supply. B

  44. $200 Question from Supply. Which is a non-elastic supply graph? A B C D

  45. $200 Answer from Supply. C

  46. $300 Question from Supply. Does this show an increase or decrease in supply? S1 S2

  47. $300 Answer from Supply. Increase

  48. $400 Question Supply. Does this show an increase or decrease in supply? S2 S1

  49. $400 Answer from Supply./ Decrease

  50. $500 Question from Supply. This is the change in cost for each additional output.

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