Post on 04-Jan-2016
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Click Once to BeginJEOPARDY!Introduction to Economics
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JEOPARDY!
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DefinitionSentence
Completion
Economic
Systems
Fill
InMatches Odds/Ends
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“These are limited”
What are Resources?
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“These are unlimited.”
What are Wants & Needs?
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What are decisions?
“A process is needed to make these.”
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“What’s the proper order for the definition of economics?”
1. A, B, C; 2. B, A, C;3. C, A, B; 4. C, B, A;5. A, C, B; 6. B, C, A
A. Using Limited resourcesB. A process of making decisionsC. to satisfy unlimited wants & needs
What is # 6?
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“Land, Labor, or Capital.”
What are Economic Resources?
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“An economic system in which the government lets the
market place answer the three basic questions”
What is a Command or
Communist Economy?
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An economic opportunity that allows businesses to make
excessive profits?
What is a Monopoly?
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“The money a business brings in after costs & expenses are paid and serves as a motivating force
in Free Enterprise”
What is Profit?
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“This economic system would be considered a hybrid”
What is Socialism?
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“Another word for tangible products that you can touch or feel & have monetary value”
What are goods?
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“Another name for Capitalism”
What is Free Enterprise?
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“Another name for a Planned Economy“
What is a Command or Communist Economy?
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“In this economic system, the most efficient method will be
used to produce all goods
What is Free Enterprise or Capitalism?
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In this economic system, the consumers are said to:
“Vote With Their Dollars.”
What is Free Enterprise or Capitalism?
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In this economic system, all products are provided to
people who need them the most.
What is Communism or Command Economies?
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Every time we ______ products or services, we are engaging in
an economic activity?
What is purchase or buy?
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It is important to study economics because it is an _________ part of
everyone’s life.
Basic, important, or critical, ?
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What are monies, incomes, or resources?
For most people, ________ are limited.
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When we exchange something of monetary _________ to get
something else we want, we are
engaging in economics
What is bartering, worth, or value?
Daily Double!!!
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Economics can be described as a process of getting the ________
for the least.
What is most?
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This system allows for a great deal of competition for
every product or service
What is Capitalism or Market Economy?
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This system attempts to take the best from both Capitalism
and Communism.
What is Socialism?
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In this system, the government only owns the major means of production.
What is Socialism?
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In this system, a lot of social services are available and there
is no such thing as profit.
What is Communism, Planned, or Command Economy?
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In this system, its members enjoy very limited government
control of the economy.
What is Free Enterprise or Capitalism?
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In this system, you can own any type of
business you want.
What is Free Enterprise or
Capitalism?
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The wasting of economic resources is a frequent
criticism of this economic system.
What is Free Enterprise or
Capitalism?
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Being guaranteed a job is a feature of this economic system.
What is Communism, Planned, or Command Economy?
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These intangibles can’t be touched or felt, but have
economic value
What are services?
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A term that describes a situation where people’s desire
for a product exceeds the ability of businesses to supply
the product or service.
What is scarcity?