JeopardySupply Demand Monopoly Government

RegulationsCurrent Events

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

Final Jeopardy

$100 Question from Supply

Haircuts are this because they can react quickly to price change

$100 Answer from Supply

Elastic

$200 Question from Supply

Law of Supply

$200 Answer from Supply

Supply increases as price increases

$300 Question from Supply

Supply curve

$300 Answer from Supply

Begins bottom left and rises right

$400 Question from Supply

The government pays producers to produce a certain amount of a product

$400 Answer from Supply

subsidy

$500 Question from Supply

Margin of production decreases when another worker gets hired

$500 Answer from Supply

Diminishing marginal returns

$100 Question from Demand

Law of demand

$100 Answer from Demand

Demand decreases when price increases

$200 Question from Demand

If price is too high for a PlayStation 4, someone may buy an Xbox One instead.

$200 Answer from Demand

Substitution effect

$300 Question from Demand

A toothbrush and toothpaste are examples of…

$300 Answer from Demand

Complementary goods

$400 Question from Demand

When the price increases, demand stays the same

$400 Answer from Demand

Inelastic demand

$500 Question from The Supreme Court

The money a company gets from selling it’s products

$500 Answer from Demand

Total Revenue

$100 Question from Monopoly

The right for a person or company to produce and sell an item exclusively

$100 Answer from Monopoly

Patent

$200 Question from Monopoly

Southern California Edison is an example of this type of monopoly because it’s more effecient

$200 Answer from Monopoly

Natural monopoly

$300 Question from Monopoly

People are broken into groups based on how much they are willing to pay

$300 Answer from Monopoly

Price discrimination

$400 Question from Monopoly

Someone buys the right to sell another company’s products and use the company’s name

$400 Answer from Monopoly

Franchise

$500 Question from Monopoly

A few company’s run the market and set production levels

$500 Answer from Monopoly

Oligopoly

$100 Question from Regulations

The government may block two companies from becoming one if the resulting company becomes too big

$100 Answer from Regulations

Merger

$200 Question from Regulations

The ban of Tesla stores in NJ is this part of imperfect competition

$200 Answer from Regulations

Barrier to entry

$300 Question from Regulations

an agreement between formal organizations to set price and production standards

$300 Answer from Regulations

Cartel

$400 Question from Regulations

Standard Oil was broken up using this

$400 Answer from Regulations

Antitrust laws

$500 Question from Regulations

When a company can’t charge over a certain amount for a good or service

$500 Answer from Regulations

Price ceiling

$100 Question from Current Events

Disney keeps raising prices, even during tough economic times, trying to find this

$100 Answer from Current Events

Equilibrium

$200 Question from Current Events

Wal-Mart was accused of this (lowering prices to get rid of competition)

$200 Answer from Current Events

Predatory pricing

$300 Question from Current Events

The burst of the housing bubble and bank failures were a result of this

$300 Answer from Current Events

deregulation

$400 Question from Current Events

A reason why someone is more likely to open a pizzeria rather than an industrial factory

$400 Answer from Current Events

Startup cost

$500 Question from Current Events

Minimum wage is an example of…

$500 Answer from Current Events

Price floor

Final Jeopardy

Salaries for teachers is an example of this cost for BCHS

Final Jeopardy Answer

Fixed cost