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Review Time. Jonny and Bonnie Need a Date!. Valentine’s Day Game Girls vs. Boys. Meet Jonny. Jonny is lonely on this Valentine’s Day and is looking for a date However, he’s really picky and has a specific girl in mind. Jonny’s Love Interest. Bonnie.

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Review Time

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  1. Review Time

  2. Jonny and Bonnie Need a Date! Valentine’s Day Game Girls vs. Boys

  3. Meet Jonny • Jonny is lonely on this Valentine’s Day and is looking for a date • However, he’s really picky and has a specific girl in mind

  4. Jonny’s Love Interest

  5. Bonnie • Bonnie has suffered severe brain damage due to poor life choices • She too has trouble finding a date and needs your help!

  6. Bonnie’s Love Interest * Currently Ms. So’s husband

  7. Cupid • Luckily, our friend Cupid has just one love arrow remaining and is allowing you to decide who gets it- Jonny or Bonnie

  8. Rules of the Game • For each question you answer correctly, Cupid’s arrow moves closer to Jonny or Bonnie’s love interest • Each team has 20 seconds to answer a question, EVERYONE has to answer in order for them to get the point • Shouting out answers will result in a step back from Cupid’s target • If the team fails to answer the question correctly, the question goes to the other team • First group to answer 11 correctly gets Cupid’s last arrow • Unless there’s a tie- then we go into SUDDEN DEATH MATCH =) • Sudden death match questions review concepts from US Government, current events, and other random stuff

  9. _____________ is a problem becauseof the tension between limited resources and unlimited wants • Scarcity

  10. The factor of production that can be best described as man made factors of production i.e. tools, machinery, etc. • Capital

  11. The term for the value of the nextbest alternative in an economicdecision is • Opportunity cost

  12. An increase in factors of production would cause a production possibility curve to shift in which direction? • Outward

  13. Adam Smith’s “invisible hand”works only in which type of economy?1. Command2. Market3. Traditional • 2. market

  14. Which of the following best describes a market economy?a. consumer sovereigntyb. high taxesc. government-controlled productiond. national health insurance • A. consumer sovereignty

  15. A person who lives downstreamfrom a polluting factory mayexperience a a. free rideb. negative externalityc. positive externalityd. public transfer • B. negative externality

  16. What two things are necessary for demand? • Willingness and ability

  17. Honey Booboo sets off a craze for wearing pink dresses among her fans. What factor is affecting demand? • Consumer tastes

  18. I buy peanut butter to go with my jam. What factor is affecting demand? • Complements

  19. What’s the equation for calculating revenue? • Revenue = Price x Quantity

  20. What is the difference between a market demand curve and a demand curve? • Market demand curve represents a whole population • Demand curve represents an individual

  21. How is profit calculated? • Profit = Revenue – Cost of Production

  22. The change in the amount consumers will buy because they can buy a different product instead is called the ____________ effect • Substitution

  23. The law of economics that explains why your 10th cupcake is not as good as the 1st cupcake • Law of diminishing marginal utility

  24. Two hospitals in Daly City just got sued so they laid off hundreds of workers. Consumer spending in theDaly City falls. What factor is affecting demand? • Income

  25. If quantity demanded does not change significantly when price changes the demand is a. elasticb. unit elasticc. inelastic • Inelastic

  26. What do various points on a demand curve represent?A. change in quantity demandedB. change in demand • A. change in quantity demanded

  27. If income decreases, substitutes become cheaper, and complements become more expensive, a demand curve will most likely shift in which direction? • To the left

  28. According to this revenue table, is the demand for hot cocoa at North Star Ski Resort elastic or inelastic? • Inelastic

  29. What type of elasticity does this demand curve represent? • Elastic Price Quantity

  30. What is the name of the famous economist who supports the free market, served as economic advisor to Presidents Nixon and Reagan, and won a Nobel Prize for his economic achievements? • Milton Friedman

  31. SUDDEN DEATH!!!

  32. Uh Oh. Bonnie was intoxicated and went potty in a public street. She was fined $10,000 and sentenced to 15 years in prison. Which amendment will protect her from this cruel and unusual punishment? • 8th Amendment

  33. Jonny was arrested and taken to the police station for committing a crime. He was told that he had rights to a lawyer and that he didn’t have to confess to his crimes if he didn’t want to. Which Supreme Court case mandated police to read people these rights upon arrest? • Miranda vs. Arizona

  34. When asked by a reporter about his face paint, this kid replied “_________________________” • “I like turtles”

  35. The right to bear arms is listed in which amendment of the US Constitution? • 2nd Amendment

  36. Which article of the Constitution states that national law is always supreme? • Article 6

  37. What is The Rock’s finishing move called? • The People’s Elbow

  38. The Battle of the Alamo took place in which modern day city in Texas? • San Antonio

  39. In what city is the U.S.’ tallest building, the Sears Tower, located? • Chicago

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