MID TERM
“Jeopardy Dukes of
Hazzard Challenge”
BO
LUKE
UNCLE
JESSIE
ROSCOE
CLETUS
10
10
10
10
10
20
20
20
20
20
30
30
30
30
30
40
40
40
40
40
50
50
50
50
50
for 10
Question:?
WHAT IS THE
RESULT OF
PRIOR
PRODUCTION
Check Your Answer
for 10
Answer: CAPITAL
Back to the Game Board
for 20
Question:? WHAT IS THE
FUNDAMENTAL
ECONOMIC
PROBLEM
Check Your Answer
for 20
Answer: SCARCITY
Back to the Game Board
for 30
Question:? WHAT ARE
THE THREE BASIC
ECONOMIC QUESTIONS
Check Your Answer
for 30
Answer: WHAT TO
PRODUGE, HOW TO
PRODUCE IT, WHO GETS
IT
Back to the Game Board
for 40
Question:? WHAT IS A
MERGER OF DIFFERENT
CORPORATIONS
INVOLVED IN DIFFERENT
STEPS OF
MANUFACTURING.
Check Your Answer
for 40
Answer: VERTICAL MERGER
Back to the Game Board
for 50
Question?: WHAT IS THE
ACT OF GIVING UP ONE
THING TO OBTAIN
ANOTHER
Check Your Answer
for 50
Answer: TRADEOFF
Back to the Game Board
for 10
Question ?: WHAT IS THE
COST OF PRODUCING
JUST ONE MORE
PRODUCT CALLED
Check Your Answer
for 10
Answer: MARGINAL COST
Back to the Game Board
for 20
Question?: WHAT TYPE
OF BUSINESS HAS
UNLIMITED LIFE AND
LIMITED LIABILITY
Check Your Answer
for 20
Answer: CORPORATION
Back to the Game Board
for 30
Question?: WHAT DO WE
CALL THESE ACTS,
BUYING STOCK, GOING
TO COLLEGE,
PURCHASING NEW
EQUIPMENT FOR YOUR
BUSINESS
Check Your Answer
for 30
Answer: INVESTING
Back to the Game Board
for 40
Question?: WHAT IS THE
MOST COMMON TYPE OF
BUSINESS IN AMERICA
AND ALSO THE EASIEST
TO START
Check Your Answer
for 40
Answer: SOLE
PROPRIETORSHIP
Back to the Game Board
for 50
Question?: WHAT DO
WE CALL THE SUM OF
ECONOMIC PRODUCTS
THAT ARE TANGIBLE,
TRANSFERRABLE,
SCARCE AND USEFUL
Check Your Answer
for 50
Answer: WEALTH
Back to the Game Board
for 10
Question?: WHO DECIDES
WHAT IS PRODUCED IN A
FREE ENTERPRISE
SYSTEM
Check Your Answer
for 10
Answer: CONSUMER
Back to the Game Board
for 20
Question?: WHAT IS THE
DOLLAR VALUE OF ALL
GOODS AND SERVICES
PRODUCED IN A
COUNTRY IN ONE YEAR
Check Your Answer
for 20
Answer: G.D.P OR GROSS
DOMESTIC PRODUCT
Back to the Game Board
for 30
Question?: WHAT DO WE
CALL THE SITUATION IN
WHICH NECCESSITIES
HAVE VERY LITTLE VALUE
AND WANTS ARE VERY
EXPENSIVE
Check Your Answer
for 30
Answer: PARADOX OF
VALUE
Back to the Game Board
for 40
Question?: IF A PRODUCT
HAS A LARGE PRICE
CHANGE WITH LITTLE
CHANGE IN DEMAND,
THAT PRODUCT IS
Check Your Answer
for 40
Answer: INELASTIC
Back to the Game Board
for 50
Question?: WHAT EFFECT
LEADS CONSUMERS TO
REPLACE SOMETHING
COSTLY WITH
SOMETHING CHEAPER
Check Your Answer
for 50
Answer: SUBSTITUTION
EFFECT
Back to the Game Board
for 10
Question?: WHAT TYPE
OF ECONOMY CAN
CHANGE PRODUCTION
DECISIONS QUICKLY AND
EVERYONE GETS A
SHARE OF PRODUCTION
Check Your Answer
for 10
Answer: COMMAND
ECONOMY
Back to the Game Board
for 20
Question?: COST OF
INPUTS OR WORKER
PRODUCTIVITY CAN
CAUSE THIS CURVE TO
SHIFT RIGHT OR LEFT
Check Your Answer
For 20
Answer: SUPPLY CURVE
Back to the Game Board
for 30
Question?: WHAT PRICE
FLOOR SHOWS
AMERICA’S DESIRE FOR
EQUITY OVER MARKET
EFFICIENCY
Check Your Answer
For 30
Answer: MINIMUM WAGE
LAW
Back to the Game Board
for 40
Question: IN WHAT STAGE
OF PRODUCTION DO
WORKERS GET IN EACH
OTHERS WAY AND WHAT
IS THAT STAGE CALLED
Check Your Answer
for 40
Answer: STAGE 3 AND
STAGE OF NEGATIVE
RETURNS
Back to the Game Board
for 50
Question?: IN
CALCULATING BUSINESS
EXPENSES, IT IS
IMPORTANT TO KNOW
THAT FIXED PLUS
VARIABLE COSTS EQUAL
Check Your Answer
for 50
Answer: TOTAL COSTS
Back to the Game Board
for 10
Question?: AT WHAT
POINT ON A SUPPLY AND
DEMAND SCHEDULE IS
THE OPTIMAL POINT OF
PRODUCTION AND
PROFITS MAXIMIZED
Check Your Answer
for 10
Answer: WHERE
MARGINAL COSTS EQUAL
MARGINAL REVENUE
Back to the Game Board
for 20
Question: WHAT TERM
BEST DESCRIBES HIGH
ADMINISTRATIVE COSTS,
NO INCENTIVE TO WORK
AND A LACK OF
FAIRNESS
Check Your Answer
for 20
Answer: ALLOCATION BY
RATIONING
Back to the Game Board
for 30
Question: THIS TYPE OF
BUSINESS HAS AN
UNFAIR ADVANTAGE
OVER COMPETITION DUE
TO A SCIENTIFIC
ADVANCE OR PROCESS
Check Your Answer
for 30
Answer: TECHNOLOGICAL
MONOPOLY
Back to the Game Board
for 40
Question?: THIS MEDIUM
OF EXCHANGE LOSES ITS
VALUE WHEN IT
BECOMES TOO
PLENTIFUL
Check Your Answer
for 40
Answer: MONEY
Back to the Game Board
for 50
Question?: CONSUMERS
TRADE PRODUCTS AND
LABOR FOR MONEY IN
WHAT MARKET
Check Your Answer
for 50
Answer: FACTOR MARKET
Back to the Game Board
FINAL JEOPARDY
Question? WHAT
CHARACTERISTIC OF
MONEY IS DECIDED BY
ITS UNITS OF MEASURE.
HINT: US DOLLAR HAS 10
UNITS
Check Your Answer
FINAL JEOPARDY
Answer: DIVISIBLE
All of you are winners in
my book
Bahahahahahaha!!!!!