Jeopardy

1. Jeopardy Economics DIRECTIONS GAME BOARD

2. Directions The Game Board Slide: Click on a dollar amount to see the question. After a question has been attempted the dollar amount will disappear. The Question Slides: Use the space bar or right arrow on the keyboard to see the answer. Click the Game Board button to return to the game board. Start with the game board. When a student or team selects a category and a dollar amount, click it with the mouse. The question will appear. Use the right arrow or space bar on the keyboard to see the answer. Click the game board button to return to the game board. Repeat. Press the Esc button on the keyboard to stop playing. GAME BOARD

3. Course: Economics Multiple Choice Calculations Lunch Money Constructed Response Vocabulary $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 Final Jeopardy DIRECTIONS TITLE PAGE

4. Category 1$100 Toys, jewelry, and video games are examples of • Income • Wants • Needs • Profit b) Wants GAME BOARD

5. Category 1$200 Amy bought a cell phone (good) and had someone mow her lawn (service). She is a • Budget • Producer • Shopper • Consumer d.) Consumer GAME BOARD

6. Category 1$300 Brad purchases baseball cards instead of a pair of shoes. The shoes are his • Least favorite • supply • Opportunity cost • want c.) Opportunity Cost GAME BOARD

7. Category 1$400 A bus driver, teacher, and dentist are examples of people involved in a) selling goods b) providing services c) making profits b.) Providing Services GAME BOARD

8. Category 1$500 Which idea BEST explains why prices of a product increase when many people want the product but there isn't enough of it for everyone? a) scarcity b) importing and exporting goods c) supply and demand c) Supply and Demand GAME BOARD

9. Category 2$100 Jimmy bought a yo-yo for $1. He sold it for $1.75. What is his profit? $0.75 GAME BOARD

10. Category 2$200 Maggie is a cashier at Wal Mart. Steve bought a watch for $6.25 and a bag of chips for $1.25. How much should Maggie charge him? $7.50 GAME BOARD

11. Category 2$300 My total meal at Sonic costs $5.39. I gave the waitress $10. How much change should I receive? $4.61 GAME BOARD

12. Category 2$400 How do you calculate profit? Price you sell – Price you buy = Profit GAME BOARD

13. Category 2$500 At BSSE, the Scandanavian country needs to borrow $164.00 from the bank to cover shop supplies and salaries. They have to pay $5 in rent and they are charged $5 for accounting services. They make $172 dollars. Did they make a profit? Explain. No $164 + $5 + $5 = $174 They need to make more than $174 to make a profit. GAME BOARD

14. Category 3$100 Greg decided to start selling things at school after he • Heard students complaining about cafeteria food • Realized that a lot of students carried extra quarters • Overheard two girls talking about going to the mall • Saw how bored some of the students were at recess B GAME BOARD

15. Category 3$200 What happened when Greg sold lemonade the summer after fourth grade? • Maura asked to be his partner • Maura stole his paper cups • Maura knocked over his pitcher • Maura opened her own lemonade stand D GAME BOARD

16. Category 3$300 Who is the author of Lunch Money? Andrew Clements GAME BOARD

17. Category 3$400 Maura ____ to prove to Greg that she wasn’t brainless. • Made and sold potholders • Entered a speech contest • Washed dishes and windows • Held her own garage sale A GAME BOARD

18. Category 3$500 Give an example of the effect that supply and demand have on pricing from the book Lunch Money. Maura had a limited number of potholders (supply was low). She had several people interested in purchasing them (demand was high). She increased the price of each potholder. GAME BOARD

19. Category 4$100 Give two examples of a good. Answers may vary GAME BOARD

20. Category 4$200 Define Consumer. A consumer is the person who uses the good or service (buyer). GAME BOARD

21. Category 4$300 Give two examples of a service. Answers may vary. GAME BOARD

22. Category 4$400 Max has 50 toys to sell. He has 75 interested buyers. Supply is _____ (low / high). Demand is _____ (low / high). Max should ____ (increase / decrease) the price. Supply is LOW. Demand is HIGH. Max should INCREASE the price. GAME BOARD

23. Category 4$500 Describe the effect that a drought might have on the price of corn. A drought would result in a low supply of corn. Assuming that demand stays the same, the price of corn would increase. GAME BOARD

24. Category 5$100 This word means “not enough to go around.” Scarcity GAME BOARD

25. Category 5$200 _______ is the term used to refer to the object you had to give up when you chose something else. Opportunity Cost GAME BOARD

26. Category 5$300 The study of how people satisfy their needs and wants is called ________. Economics GAME BOARD

27. Category 5$400 The amount of something available to sell is called the _______. Supply GAME BOARD

28. Category 5$500 Define Producer A producer is the person who makes the good(s) or provides the service(s). GAME BOARD

29. Final Jeopardy Explain the effect that supply and demand have on an item’s price. The price of an item is determined by supply and demand. If supply is high and demand is low, the item will be cheap. If supply is low and demand is high the item will cost more. GAME BOARD