This document contains questions from a Jeopardy-style game covering various economic concepts and terms. It includes categories such as economic concepts, economic systems, measuring economic performance, supply and demand, fiscal policy, monetary policy, banking, and random economic topics. Players were tested on their knowledge of key ideas including factors of production, opportunity cost, GDP, inflation, fiscal and monetary policy tools, banking activities like interest on loans, and more.

1. This is Jeopardy!This is Jeopardy!
Test ReviewTest Review

2. Jeopardy (Round 1)Jeopardy (Round 1)
100
200
300
400
500
Economic
Concepts/T
erms
300 300 300300
400 400 400 400
500 500 500 500
200 200 200 200
100 100 100 100
Personal
Finance
Economic
Systems
Measuring
Economic
Performance
Supply
and
Demand

3. Jeopardy (Round 2)Jeopardy (Round 2)
600
700
800
900
1000
600
700
800
900
1000
600
700
800
900
1000
600
700
800
900
1000
600
700
800
900
1000
Economic
Concept/
Terms
Fiscal
Policy
Monetary
Policy Banking RandomRandom

4. Final JeopardyFinal Jeopardy
This law is proven when aThis law is proven when a
worker is hired and theyworker is hired and they
contribute less to thecontribute less to the
output than those hiredoutput than those hired
before them.before them.

5. Law ofLaw of
DiminishingDiminishing
MarginalMarginal
ReturnReturn

6. Economic Concepts (100)Economic Concepts (100)
Land, labor, andLand, labor, and
capitol arecapitol are
considered this…considered this…

7. The ThreeThe Three
Factors ofFactors of
ProductionProduction

8. Economic ConceptsEconomic Concepts (200)(200)
Including goods andIncluding goods and
services, allservices, all
resources are this…resources are this…

9. ScarceScarce

10. Economic Concepts (300)Economic Concepts (300)
The most desirableThe most desirable
alternative given upalternative given up
when making awhen making a
decision.decision.

11. OpportunityOpportunity
CostCost

12. Any resource made byAny resource made by
humans and used tohumans and used to
created other goodscreated other goods
and services.and services.
Economic Concepts (400)Economic Concepts (400)

13. CapitalCapital

14. Economic Concepts (500)Economic Concepts (500)
A factory buildingA factory building
would be anwould be an
example of this…example of this…

15. PhysicalPhysical
CapitalCapital

16. Economic Systems (100)Economic Systems (100)
This person stated that inThis person stated that in
a market economy, self-a market economy, self-
interest controlledinterest controlled
competition.competition.

17. Adam SmithAdam Smith

18. EconomicEconomic SystemsSystems ((200200))
An economic system thatAn economic system that
includes governmentincludes government
ownership, allocation byownership, allocation by
command, and planning ofcommand, and planning of
all decisions by theall decisions by the
government.government.

19. CommandCommand
EconomyEconomy

20. Economic Systems (300)Economic Systems (300)
Private ownership, freedomPrivate ownership, freedom
of choice, and competitionof choice, and competition
are characteristic of thisare characteristic of this
economic system.economic system.

21. MarketMarket
EconomyEconomy

22. Daily Double!!!Daily Double!!!

23. Economic Systems (400)Economic Systems (400)
These two entities setThese two entities set
the price of good andthe price of good and
services in a marketservices in a market
economy.economy.

24. BuyersBuyers
(Demanders) and(Demanders) and
Sellers (Suppliers)Sellers (Suppliers)

25. Economic Systems (500)Economic Systems (500)
System that doesSystem that does
not provide thingsnot provide things
the market does notthe market does not
address…address…

26. FreeFree
MarketMarket

27. Supply and Demand (100)
Adam Smith’sAdam Smith’s
imaginary friend whoimaginary friend who
said individuals act onsaid individuals act on
self-interest…self-interest…

28. TheThe
“Invisible“Invisible
Hand”Hand”

29. Daily Double!!!Daily Double!!!

30. Supply and Demand (200)
This is the mostThis is the most
important factor inimportant factor in
determining pricedetermining price
elasticity forelasticity for
supply…supply…

31. TimeTime

32. Supply and Demand (300)
Point where thePoint where the
supply curve andsupply curve and
demand curve meet…demand curve meet…
(X)(X)

33. EquilibriumEquilibrium
PricePrice

34. Supply and Demand (400)
This law states thatThis law states that
lower prices causelower prices cause
people to buy more ofpeople to buy more of
a good.a good.

35. Law ofLaw of
DemandDemand

36. Supply and Demand (500)
This law states thatThis law states that
when the price ofwhen the price of
goods rise so will thegoods rise so will the
quantity supplied.quantity supplied.

37. Law ofLaw of
SupplySupply

38. Economic Performance (100)
Ms. Duke is thisMs. Duke is this
because he has a B.S. inbecause he has a B.S. in
biology and is workingbiology and is working
at Del Taco.at Del Taco.

39. UnderemployedUnderemployed

40. Economic Performance (200)(200)
This includes consumerThis includes consumer
spending, businessspending, business
investment, governmentinvestment, government
investment, and netinvestment, and net
exports…exports…

41. GDPGDP

42. Economic Performance (300)
Type of GDPType of GDP
that includedthat included
current pricescurrent prices

43. NominalNominal
GDPGDP

44. Economic Performance (400)
A representation of aA representation of a
typical market basket oftypical market basket of
goods for a urbangoods for a urban
household…household…

45. ConsumerConsumer
Price IndexPrice Index
(CPI)(CPI)

46. Economic Performance (500)
Term used to justify theTerm used to justify the
cost of a Hershey bar goingcost of a Hershey bar going
up because sugar pricesup because sugar prices
might have increased…might have increased…

47. ““Cost-Push”Cost-Push”
inflationinflation

48. Personal Finance (100)Personal Finance (100)
A collection ofA collection of
financialfinancial
assets…assets…

49. PortfolioPortfolio

50. Personal Finance (200)Personal Finance (200)
The ease atThe ease at
which you canwhich you can
carry money iscarry money is
this…this…

51. PortabilityPortability

52. Personal Finance (300)Personal Finance (300)
Collateral, credit,Collateral, credit,
compensating factors,compensating factors,
cash, and capability arecash, and capability are
all part of this…all part of this…

53. The 5 C’s ofThe 5 C’s of
lendinglending

54. Personal Finance (400)Personal Finance (400)
When you have one ofWhen you have one of
these your money isthese your money is
invested in a varietyinvested in a variety
of stocks.of stocks.

55. MutualMutual
FundFund

56. Personal Finance (500)Personal Finance (500)
How old is Mr. Chance?How old is Mr. Chance?
A type of stockA type of stock
that reinvests itsthat reinvests its
profit into theprofit into the
company.company.

57. GrowthGrowth
StockStock

58. Economic Concepts/Terms (600)Economic Concepts/Terms (600)
This occurs when Ms.This occurs when Ms.
Christiansen goes backChristiansen goes back
to school, earns histo school, earns his
Masters Degree, andMasters Degree, and
gets a raise.gets a raise.

59. Learning EffectLearning Effect

60. Economic Concepts/Terms (700)Economic Concepts/Terms (700)
Term given to the idea ofTerm given to the idea of
spending money on thespending money on the
homeless or the military.homeless or the military.

61. Guns orGuns or
ButterButter

62. Economic Concepts/Terms (800)Economic Concepts/Terms (800)
The incentiveThe incentive
manufactures havemanufactures have
to sell theirto sell their
products.products.

63. ProfitProfit
onon
SalesSales

64. Economic Concepts/Terms (900)Economic Concepts/Terms (900)
The direction a demandThe direction a demand
curve would shift forcurve would shift for
firewood if “a recordfirewood if “a record
snow storm hit Bigsnow storm hit Big
Bear.”Bear.”

65. To theTo the
RightRight

66. Economic Concepts/Terms (1000)Economic Concepts/Terms (1000)
Market structure whereMarket structure where
two to four firmstwo to four firms
produce 70 to 80% of aproduce 70 to 80% of a
product.product.

67. OligopolyOligopoly

68. Fiscal Policy (600)Fiscal Policy (600)
Social welfareSocial welfare
program providingprogram providing
benefits to people whobenefits to people who
meet a certain criteria.meet a certain criteria.

69. EntitlementEntitlement

70. Fiscal Policy (700)Fiscal Policy (700)
Cutting taxesCutting taxes
would be this typewould be this type
of fiscal policy.of fiscal policy.

71. ExpansionaryExpansionary
Fiscal PolicyFiscal Policy

72. Fiscal Policy (800)Fiscal Policy (800)
The two bodies ofThe two bodies of
government that putgovernment that put
the federal budgetthe federal budget
together.together.

73. Congress andCongress and
the Whitethe White
HouseHouse

74. Fiscal Policy (900)Fiscal Policy (900)
DecreasingDecreasing
government spendinggovernment spending
is an example of thisis an example of this
type of policy.type of policy.

75. ContractionaryContractionary
fiscal policyfiscal policy

76. Daily Double!!!Daily Double!!!

77. Fiscal Policy (1000)Fiscal Policy (1000)
The idea that everyThe idea that every
dollar spending createsdollar spending creates
more than one dollar inmore than one dollar in
economic activity.economic activity.

78. MoneyMoney
MultiplierMultiplier

79. Monetary Policy (600)Monetary Policy (600)
Fiscal policy dealsFiscal policy deals
with taxing andwith taxing and
spending. Monetaryspending. Monetary
policy deals withpolicy deals with

80. Altering theAltering the
money supplymoney supply

81. MonetaryMonetary Policy (700)Policy (700)
The Federal ReserveThe Federal Reserve
was created to lessen thewas created to lessen the
effects of inflation andeffects of inflation and
this cycle.this cycle.

82. The BusinessThe Business
CycleCycle

83. Monetary Policy (800)Monetary Policy (800)
Monetary PolicyMonetary Policy
tools are adjustingtools are adjusting
the RR, discountthe RR, discount
rate, andrate, and

84. The sales ofThe sales of
governmentgovernment
bonds.bonds.

85. Monetary Policy (900)Monetary Policy (900)
The FED does this toThe FED does this to
encourage banks toencourage banks to
lend out more of theirlend out more of their
reserves.reserves.

86. Reduce theReduce the
Discount RateDiscount Rate
Or ReserveOr Reserve
RequirementRequirement

87. Monetary Policy (1000)Monetary Policy (1000)
Printing massPrinting mass
amounts of moneyamounts of money
would cause this…would cause this…

88. HyperinflationHyperinflation

89. Banking (600)Banking (600)
Banks make mostBanks make most
of their incomeof their income
from this…from this…

90. Interest onInterest on
loansloans

91. Banking (700)Banking (700)
If interest ratesIf interest rates
increase depositorsincrease depositors
have an incentive tohave an incentive to
do this…do this…

92. Save moreSave more
and borrowand borrow
lessless

93. Banking (800)Banking (800)
The original amountThe original amount
of money you borrowof money you borrow
from a bank whenfrom a bank when
taking out a loan…taking out a loan…

94. PrincipalPrincipal

95. Daily Double!!!Daily Double!!!

96. Banking (900)Banking (900)
This occurs whenThis occurs when
more customersmore customers
withdraw money thanwithdraw money than
the bank has inthe bank has in
reserves…reserves…

97. BankBank
RunRun

98. Banking (1000)Banking (1000)
They make sure youThey make sure you
don’t lose your moneydon’t lose your money
if your bank fails…if your bank fails…

99. FDICFDIC

100. Random (600)Random (600)
This is a type of marketThis is a type of market
where there are manywhere there are many
companies selling similarcompanies selling similar
but not identicalbut not identical
products…products…

101. MonopolisticMonopolistic
CompetitionCompetition

102. Random (700)Random (700)
Martha StewartMartha Stewart
was accused ofwas accused of
participating inparticipating in
this…this…

103. InsiderInsider
TradingTrading

104. Random (800)Random (800)
The “ability toThe “ability to
pay” theorypay” theory
reflects this typereflects this type
of taxation…of taxation…

105. ProgressiveProgressive
income taxincome tax

106. Random (900)Random (900)
The measure used toThe measure used to
indicate your creditindicate your credit
risk/creditrisk/credit
ranking…ranking…

107. FICOFICO
ScoreScore

108. Random (1000)Random (1000)
The cash and coinThe cash and coin
currency used incurrency used in
circulation in thecirculation in the
United States today isUnited States today is
an example of this…an example of this…

109. FiatFiat
MoneyMoney

110. I hope you studyI hope you study..