Post on 17-Jan-2016
JeopardyEconomics:
Demand and Supply
Jeopardy - 5/02 (Page One)
Consumer Wants
Stretching Your Dollar
Producers Rule!!
Making Decision
s
Playing the
Game
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Final Jeopardy
1-1-1
Demand goes up!
This usually occurs when price goes down.
1-2-1
The Substitution Effect
What is it called when a person decides that Pizza is too expensive and chooses Burgers for dinner?
1-3-1 – Daily Double
Ceteris Paribus
The name for when ‘All other things are held constant’
1-4-1
Inferior Goods
These are the items that decrease in demand when our income increases
1-5-1
Complements
The items that are in high demand when a related good is being purchased
2-1-1
Inelastic
When demand for a good stays the same despite a price increase it is called:
2-2-1
Elasticity of Demand
A measure of how consumers react to a change in price is called:
2-3-1
Elastic
When a product decreases in demand after an increase in price:
2-4-1 Daily Double
Availability of SubstitutesRelative Importance
Necessities vs. LuxuriesChange over Time
Name one factor that affects elasticity of demand
2-5-1 This describes demand that is not very sensitive to a change in price.
Inelastic
3-1-1
The Law of Supply
The higher the price, the greater the quantity produced is called:
3-2-1
Quantity Supplied
Economists refer to this as the amount of good that is offered for sale at a certain price
3-3-1
Raw Materials Machinery
Labor
Name one example of Input Costs discussed in class:
3-4-1
Subsidies
When the Government provides a payment that supports a business or market.
3-5-1
Future Expectations of Prices
An example is when a farmer holds his crop until the prices rise.
4-1-1
Volume
What is the total number of shares traded called?
4-2-1
52 Wk Range
What is the name of the section you find the high price of a stock for the year?
4-3-1
NYSE & NASDAQ
What are the two markets that most Americans trade on?
4-4-1
Dividends
What are the portion of corporate profits paid out to the stockholders called?
4-5-1
Diversifying Your Portfolio
What is it called when a person spreads out their stock among many different industries?
5-1-1
$100,000
How much money did each team begin with in their portfolio?
5-2-1
Two
How many transactions are you required to make in a week?
5-3-1
22
How many teams from my current economics classes are in this competition?
5-4-1
Short Selling
What is it called when you borrow stocks to make money?
5-5-1 Daily Double
$50,000
How much money can you use to “Buy on the Margin?”
Final Jeopardy
List at least three examples of the theory of Market Entry
Subject: Supply
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