Embed Size (px)
DESCRIPTION
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. - PowerPoint PPT Presentation
Citation preview
Assignment : Jeopardy (25 notes)
Mr. Robinson
Chapter 4 + 5
500
100
200
300
100 100
300
200
300 300
200
100
200
500500 500 500
300
200
100
400400 400 400 400
KOBEKOBEKOBEKOBE GASOLGASOLGASOLGASOL FISHERFISHERFISHERFISHERARTESTARTESTARTESTARTEST ODOMODOMODOMODOM
A ________ curve is a graphic
representation of a demand schedule.
(82)
$100
A demand curve is a graphic
representation of a demand schedule.
(82)
Back to
Game
A substitute is… (88)
$200
A substitute is… (88) a good
that replaces another good.
Back to
Game
A _______ good is one that consumers will demand MORE of when they make MORE money (86)
$300
A normal good is one that consumers will demand MORE of when they make
MORE money (86)
Back to
Game
A good that is always used with another good is a _________. (88)
$400
A good that is always used with another good is a complement (88)
Back to
Game
Total revenue is the amount of _______ a company receives for
selling goods and services (95)
$500
Back to
Game
Total revenue is the amount of money a company receives for selling goods and services (95)
The law of ______ is the tendency of suppliers
to offer more of a good for a high price. (101)
$100
The law of supply is the tendency of
suppliers to offer more of a good for a high price. (101)
Back to
Game
A _____ tax is a payment to the
government on the production of certain
goods. (118)
$200
An excise tax is a payment to the
government on the production of
certain goods. (118)
Back to
Game
A ______ is a government payment
that supports a business or market.
(117)
$300
A subsidy is a government payment
that supports a business or market.
(117)
Back to
Game
$400
________ revenue is the additional income from selling one more unit of a good. (112)
Marginal revenue is the additional
income from selling one more unit of a
good. (112)
Back to
Game
$500
When a person is able and willing
to buy something, they create _______.
(79)
When a person is able and willing to
buy something, they create demand (79)
Back to
Game
Inferior goods are… (87)
$100
Inferior goods are… (87) things you buy less of as you make
more money
Back to
Game
If future price is expected to rise, current
demand will ______.
If future price is expected to rise, current
demand will rise.
Back to
Game
$300
Which good has an inelastic supply (104):
Apples, hats, beanbags,
toothbrushes
Which good has an inelastic supply
(104):
Apples
Back to
Game
$400
_____ has the greatest influence on elasticity of
supply.
Time has the greatest influence on elasticity of
supply.
Back to
Game
$500
How is profit determined?
Back to
Game
How is profit determined?
Total revenue – total cost = profit.
$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)
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
$200
_______ cost is the cost of making one more unit of a good.
(111)
Marginal cost is the cost of making one more unit of a good.
(111)
Back to
Game
$300
Elasticity of _______ shows how people
change their buying patterns when prices
change. (79)
Elasticity of demand shows how people
change their buying patterns when prices
change. (79)
Back to
Game
$400
The US is a _______
economy. (79)
The US is a market economy.
(79)
Back to
Game
$500
A market ______ schedule is a chart
that shows how much of a good all
suppliers will offer at different prices. (103)
Back to
Game
A market supply schedule is a chart that shows how much of a good all suppliers will offer at different prices. (103)
$100
What does it mean when demand for a
product is inelastic? (90)
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 to
Game
$200
Marginal is a synonym for _________.
Marginal is a synonym for additional.
Back to
Game
$300
What is an example of using technology to lower production
costs? (117)
What is an example of using technology to
lower production costs? (117)
Using machines to sew backpacks instead of
people.Back
toGame
$400
How many days of the year are you in
school?
How many days of the year are you in
school?
180
Back to
Game
$500
What was the final score of last night’s
Dodger-Phillies game?
What was the final score of last night’s Dodger-
Phillies game?
5 – 4 Back
toGame
