econ - jeopardy charts and graphs vocab 2scenarios 3vocab 4vocab 5 q $100 q $200 q $300 q $400 q...
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Econ - JeopardyCharts
and Graphs Vocab 2 Scenarios 3 Vocab 4 Vocab 5
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 H1
This is a simple economic model illustrating the flow of goods and services though the economy
$200 Question from H1
This graph shows the maximum outputthat can be gained betweentwo products when all resourcesare used appropriately
$200 Answer from H1
What is the PPF?PPC?Production Possibilities Frontier?Production Possibilities Curve?
$300 Question from H1
This graph, showing two lines extending diagonally and upwardsto the left, is a depiction of
$400 Question from H1
This graph, showing two lines extending diagonally and upwardsto the right, is a depiction of
$200 Question from H2
This is the additional satisfaction or utility that a person receives from consuming an additional unit of a good or service
$300 Question from H2
This is the cost of any activity measured in terms of the value of the next best alternative forgone
$100 Question from H3
A man was looking at a demand curveand noticed that the arrow moved fromone point to the next. The arrow went in an upward direction and to the left.
$100 Answer from H3
What is a Decrease in Quantity demanded?
Extra 2 points! What happened tothe price?
$200 Question from H3
What in the world?Apple Ipads have jumped from $700 to $1200, surely this will cause two changes.
$300 Question from H3
Flat screen TV’s are not going to be on sale this year on Black Friday. The price will remain the same; however, there has been an increase in people requesting the product.
$400 Question from H3Famous rapper Gucci Mane chose to buy three more pairs of True Religion jeans for $300 dollars a piece instead of getting the Ice Cream tattoo removed from his face for $250 per procedure. This procedure will take two sessions with promising results. What is the opportunity cost of purchasing the True Religion jeans?
$500 Question from H3
Although his previous album didn’tsell as much as he though it would,Miguel felt like now that he had made a namefor himself, he would continue to keep his first album on the market by supplyingmore copies without changing the price.
$400 Question from H4
1. Income Effect2. Substitutes3. Complements4. Tastes5. Expectations6. Number of Buyers
$200 Question from H5
This is a government- or group-imposed limit on how low a price can be charged for a product
$300 Question from H5
This is when there is a disparity between the amount demanded for a product or service and the amount supplied in a market. In this case- there is an excess inDemand.
Hint: Disparity means inequality (not equal)
$500 Question from H5
This is the decrease in the marginal output of a production process as the amount of a single factor of production is increased
Final Jeopardy
This author wrote, “If one man kills another, it murder, but if a hundred thousand men kill another hundred thousand, it is considered an act of glory!?”
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