2 pt

3 pt

4 pt

5pt

1 pt

2 pt

3 pt

4 pt

5 pt

1 pt

2pt

3 pt

4pt

5 pt

1pt

2pt

3 pt

4 pt

5 pt

1 pt

2 pt

3 pt

4pt

5 pt

1pt

Basic Economics

EconomicIndicators

Money Budgeting Misc

What is the basic problem of economics?

Pricing Scarcity

Consumer behaviorGovernment policies

What is the basic problem of economics?

Scarcity

What goods and services should be produced, how they should be produced, and who should share

in what I s produced are three basic questions addressed by:

Market economiesCommand economies

Mixed economiesAll economies

What goods and services should be produced, how they should be produced, and who should share

in what I s produced are three basic questions addressed by:

All economies

The value of the next best alternative that has to be given up for the action that is chosen is the

Factor of productionTrade-off.

Opportunity costProductivity

The value of the next best alternative that has to be given up for the action that is chosen is the

Opportunity cost

Which of the following is a function of money?

Interest-bearing instrumentCheckable deposits

Medium of exchangeStability of value

Which of the following is a function of money?

Medium of exchange

What are the FOUR Factors of production?

What are the FOUR Factors of production?

land, labor, capital, and entrepreneurship

High unemployment is usually a sign that

a. The economy is getting betterb. Government spending is on the increasec. Purchasing has slowedd. Government has increased the money supply

High unemployment is usually a sign that

c. Purchasing has slowed

Economists use economic indicators to

a. determine national income and real GDP.B. explain the depreciation of capital

goods.C. decrease government regulation in many

industries.d. assess the economy and predict its future

course.

Economists use economic indicators to

d. assess the economy and predict its future course.

The total dollar value of all the nation’s final goods and services produced over

the course of a year is called

a.net exportsb.national income accounting

c.disposable personal income (DPI)d.gross domestic product (GDP)

The total dollar value of all the nation’s final goods and services produced over

the course of a year is called

gross domestic product (GDP)

What happens when inflation occurs?

What happens when inflation occurs?

The purchasing power of the dollar decreases

The part of the business cycle in which the economy starts to slow

down is called a

The part of the business cycle in which the economy starts to slow

down is called a

Contraction

The Dow Jones Industrial Average is:

A mutual fundAnother name for the S&P 500

Traded over-the-counterA stock market index

The Dow Jones Industrial Average is:

A stock market index

The Federal Reserve System was established to

a. ensure a safe and uniform currency.

b. regulate thrift institutions.c. establish a gold standard.

d. control the amount of money in circulation.

The Federal Reserve System was established to

a. ensure a safe and uniform currency.

An APR of 16% means you pay

a.$16 per year on every $100 you oweb. $16 per year on every $1000 you owec. $16 per month on every $100 you owe

d. A $16 annual fee

An APR of 16% means you pay

a.$16 per year on every $100 you owe

Compared to a stock, a bond provides a

a. higher dividend.B. higher level of risk.

C. lower dividend.d. lower level of risk.

Compared to a stock, a bond provides a

d. lower level of risk.

To what agency must you file your taxes?

a. Federal Reserveb. Supreme Court

c. Internal Revenue Serviced. Federal Deposit Insurance

Corporation

To what agency must you file your taxes?

c. Internal Revenue Service

Expenses that fluctuate (change each month) are

Fixed expenses Variable expensesRegular expenses

Withholding

Expenses that fluctuate (change each month) are

Variable expenses

What do you have to pay when you borrow funds?

Principal plus collateral Principal plus interest

The amount you borrowedTwice the amount of the loan

What do you have to pay when you borrow funds?

Principal plus interest

Give an example of a fixed expense

Give an example of a fixed expense

Mortgage, rent, insurance, car payment

__________________ is the process of comparing the bank balance to the

checkbook balance.a. Check register

b. Restrictive endorsementc. Reconciling (balancing) the account

d.Net deposit

__________________ is the process of comparing the bank balance to the

checkbook balance.

c. Reconciling (balancing) the account

A credit card is:

a. credit which must be repaid in a series of equal payments

b. pre-approved credit which can be used for the purchase of goods and services now and

payment of them laterc. a plastic card that is electronically

connected to the cardholder’s bank accountd. None of the above

A credit card is:

b. pre-approved credit which can be used for the purchase of goods and services now and

payment of them later

It is easier to start your own business in a

Command economyControlled economyTraditional economy

Free enterprise system

It is easier to start your own business in a

Free enterprise system

The economic goals of the American free-enterprise system

include Freedom, equity, and growth

Profit, traditions, and government control

Socialism that evolves into pure communism

Choice, central planning and security

The economic goals of the American free-enterprise system

include

Freedom, equity, and growth

The interaction of supply and demand determines the

ElasticityPrice ceiling

Equilibrium priceMarginal utility

The interaction of supply and demand determines the

Equilibrium price

When the tax rate increases as your income goes up, this is an

example of:

Progressive taxesRegressive taxes

Proportional taxesRecessive taxes

When the tax rate increases as your income goes up, this is an

example of:

Progressive taxes

If the price of a product is above its equilibrium price, the result is

DemandSurplusShortage

Black market

If the price of a product is above its equilibrium price, the result is

Surplus

JEOPARDY GAME

Great! I have the blank jeopardy file. Now, how do I create my own jeopardy game using this blank format.The hard part has been done for you--you have the easy part! Before we begin, you will need to download the

Blank Jeopardy game from the web site. Open it by clicking on it. Go to File, Save As, Save it to your Desktop or a folder.

1. Click on your Blank Jeopardy to open it in Powerpoint.2. Decide on your categories at the top. You need 5 categories.3. If you want to change the color of the font, highlight the category, click on the font color button's down

arrow and choose the color of your choice. 4. Double click in the first blank category and begin typing your first category. Continue to do this for all five

categories. Click on File, Save As to save your work. You will want to give it a name, e.g. Science ch. 5 review.

This will leave your "blank jeopardy file", blank for you to create other games.5. Go to the lower left hand corner and choose the Slide Sorter View. 6. Choose the second slide and double click on it.7. If you do not have the DRAW toolbar at the bottom of your screen, go to VIEW, Toolbars, and click on

Drawing. You should now see the Draw toolbar. 8. Click on the Text button. Click again to position the text box on your slide toward the top and in the middle.9. Begin typing your first answer.10. Double Click on slide 3, repeat step 11 and type your question. Remember the format of Jeopardy. The

answer is in the form of a question.11. Periodically, save your work by clicking on the little diskette in your menu bar. 12. Each slide is in order, going down the category e.g.: First category on the far left for 1 point is slide number

2 and 3. First category for 2 points is slide number 4 and 5 etc.13. If you want to include two "daily doubles", just change the color of the question and answer to yellow. We

included two daily doubles because we play with two teams and would like each team to have the opportunity to score a daily double. But as you know, it doesn't always work out that way!

Enjoy creating and playing Jeopardy!