Embed Size (px)
Citation preview
Jeopardy Taxes
Intro to Economics
The Six Pillars
Demand & Supply
Q $100
Q $200
Q $300
Q $400
Q $500
Q $100 Q $100Q $100 Q $100
Q $200 Q $200 Q $200 Q $200
Q $300 Q $300 Q $300 Q $300
Q $400 Q $400 Q $400 Q $400
Q $500 Q $500 Q $500 Q $500
Money & Banking
$100 Question from Taxes.
This tax must be paid by a person that receives a gift valued at over $13,000.
$100 Answer from Taxes.
Gift Tax
$200 Question from Taxes.
This tax accounts for the most amount ofFederal revenue. Amendment 16 allowed it to be collected based on income ratherthan state population.
$200 Answer from Taxes.
Individual Income Tax
$300 Question from Taxes.
This is levied when goods are broughtinto the United States. As a traveler youare able to bring $800 worth of purchases back from abroad before they are taxed.
$300 Answer from Taxes.
Custom Duties
$400 Question from Taxes.
A tax imposed on one who dies.
$400 Answer from Taxes.
Estate Tax
$500 Question from Taxes.
This type of income tax is very complicated because of the many deductions allowed, such as charitable donations and start-up costs.
$500 Answer from Taxes.
Corporation Income Tax
$100 Question from Intro to Economics.
This is a gain to a producer/consumer.
$100 Answer from Intro to Economics.
Benefit
$200 Question from Intro to Economics.
This is a loss to a producer/consumer.
$200 Answer from Intro to Economics.
Cost
$300 Question from Intro to Economics.
A negative reward for a producer/consumer choice
$300 Answer from Intro to Economics.
Disincentive
$400 Question from Intro to Economics.
1Want -Sat isf ac t ion Chain
23
56
7
4
$400 Answer from Intro to Economics.
Want-Satisfaction
$500 Question from Intro to Economics.
1Want -Sat isf ac t ion Chain
23
56
7
4
$500 Answer from Intro to Economics.
Human Wants
$100 Question from The Six Pillars.
This pillar includes all everything that a business “owns” including land, any machinery, and a building.
$100 Answer from The Six Pillars.
Private Property
$200 Question from The Six Pillars.
This pillar includes the innovation, imagination, and skills to develop a new business.
$200 Answer from The Six Pillars.
Entrepreneurship
$300 Question from The Six Pillars.
This pillar means that a business must sell its product/service to produce a profit BUT the price must be low enough so that the consumer will be willing to pay the suggested price.
$300 Answer from The Six Pillars.
The Price System
$400 Question from The Six Pillars.
Definition: the act of producing only one certain type of product/service.
$400 Answer from The Six Pillars.
Specialization
$500 Question from The Six Pillars.
This pillar generally means that a producer cannot make “everything” so they must buy from other producers. ---You must produce something that others are willing to buy
$500 Answer from The Six Pillars.
Voluntary Exchange.
$100 Question from Demand & Supply.
A ______________ is a good/service that can replace another good/service.
$100 Answer from Demand & Supply.
Substitute
$200 Question from Demand & Supply.
A______________ is a good/service that is often bought with another good/service.
$200 Answer from Demand & Supply.
Compliment
$300 Question from Demand & Supply.
Which is an elastic demand graph?
A B C D
$300 Answer from Demand & Supply.
A
$400 Question from Demand & Supply.
Which is a non-elastic demand graph?
A B C D
$400 Answer from Demand & Supply.
D
$500 Question from Demand & Supply.
Which is an elastic supply graph?
A B C D
$500 Answer from Demand & Supply.
B
$100 Question from Money and Banking.
What is the missing economic indicator?1. _________2. GDP3. Durable Goods4. Index of Leading Economic Indicators
$100 Answer from Money and Banking.
CPI (Consumer Price Index)
$200 Question from Money and Banking.
GDP =C+I+G+NXWhat is G?
$200 Answer from Money and Banking.
Government Spending
$300 Question from Money and Banking.
M3 includes Eurodollars and accounts over $100,000. What else does it include?
$300 Answer from Money and Banking.
M1 and M2
$400 Question Money and Banking.
100/_______ ________= deposit multiplier
$400 Answer from Money and Banking.
Reserve Ratio
$500 Question from Money and Banking.
The __________ family were the first “modern bankers.”
$500 Answer from Money and Banking.
Medici
