wheel of fortune rules teams consist of groups of 3. if a team gets the question correct, you get to...

Wheel of Fortune Rules• Teams consist of groups of 3.

• If a team gets the Question correct, you get to spin.

• If a team gets the Question incorrect, other teams can earn 50 points by writing the correct answer on their whiteboard. Teams have 10 seconds to record their answer.

And now..our hosts! Pat and Vanna!

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End Game

Back to the Back to the BoardBoard

TIME TO PLAY TIME TO PLAY “Wheel of “Wheel of Fortune!”Fortune!”

• Here are the questions for the game. You may choose them at random. Once a question is picked, you may not pick it again….Good Luck!!!!!!!!

1 2 3 4 5 6 7 8 9

10 11 12 13 14 15 16 17 18

19 20 21 22 23 24 25 26 27

28 29 30 31 32 33 34 35 36

37 38 39 40

Question #1Question #1

- Combination of desire, ability, and willingness to buy a product?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #2Question #2

- Decrease in satisfaction or usefulness from having one more unit of the same product

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #3Question #3

- Type of elasticity where a change in price causes a relatively larger change in quantity demanded?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #4Question #4

- That part of a change in quantity demanded due to a price change that makes other products more or less costly

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #5Question #5

- What causes a change in demand?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #6Question #6

- What is the issue with measuring marginal utility according to economists?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #7Question #7

A. (Q1-Q2) / (Q1+Q2) ÷ (P1-P2)/(P1+P2)B. (Q1+Q2) / (Q1-Q2) ÷ (P1+P2)/(P1-P2)C. (P1-P2)/(P1+P2) ÷ (Q1-Q2) / (Q1+Q2)D. (P1+P2)/(P1-P2) ÷ (Q1+Q2) / (Q1-Q2)?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #8Question #8

- If PEoD = 1, then…?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #9Question #9

- What are 2 of the 3 ?’s/Determinants of Demand Elasticity?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #10Question #10

- Extra output due to the addition of one more unit of input?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #11Question #11- Broad category of fixed costs that includes rent, taxes, and executive salaries?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #12Question #12

- Production level where total cost equals total revenue?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #13Question #13

- Decision making that compares the extra costs of doing something to the extra benefits gained?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #14Question #14

- Name this jingle…- http://www.youtube.com/watch?v=MTa4FyuflIM

Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #15Question #15

- Amount of a product offered for sale at all possible prices?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #16Question #16

- Which of the following is not true about reasons for a change in supply?

• Cost of Resources• Productivity• Technology• Taxes & Subsidies• Previous Sales• Government Regulations• # of Sellers

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #17Question #17

- How does the cost of resources affect the quantity offered for sale?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #18Question #18- What are 3 of the 4 measures of cost?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #19Question #19

- What are the 3 stages of production?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #20Question #20

- How does changing one variable affect the other variable inputs of a firm?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #21Question #21

- A business must know this in order to keep in business?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #22Question #22

- Low overhead, less inventory, and low rent or only the need for the Internet is a benefit of?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #23Question #23

- Utilizes Greek mythology’s Siren and company has stated that this was done to show the company's heritage from the Pacific Northwest and to celebrate 35 years of business.

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #24Question #24

-Congratulations! Free spin without answering a question

Let’s Spin!

Question #25Question #25-Utilized this as their 1st logo and today is the largest in their venue by serving around 68 million customers daily in 119 countries?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #26Question #26

-System of allocating goods and services without prices?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #27Question #27

- Partial refund of a product’s original price?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #28Question #28

- Price where quantity supplied equals quantity demanded?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #29Question #29

- Highest legal price that can be charged for a product?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #30Question #30

- Name 3 of the 4 programs intended to help farmers here in the U.S.?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #31Question #31

- Shares too small, costs, loss of incentive to work are all problem with?

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #32Question #32

- Which of the following is not a factor that could disturb the equilibrium market?

• New competitors entering the market• Technological improvements• Drop in wages• Inflation

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #33Question #33

Sorry - 100 pts. Back to the Questions

Correct! Let’s Spin!

Question #34Question #34

- Movie that demonstrates “when markets talk”…ie frozen concentrate orange juice in this stock market movie?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #35Question #35

- Requirement that a business reveal information about its products or its operations to the public?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #36Question #36

- Goods or services whose benefits are available to everyone and are paid for collectively?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #37Question #37

- What does FCC stand for?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #38Question #38

- What does OSHA stand for?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #39Question #39

- Practice of selling the same product at different prices to different buyers?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions

Question #40Question #40

- Name this jingle:

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions