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Contestants Don’t Forget. . .
…Always phrase your answers in the form of a question!
Hands on your buzzers, its. . .
Nerdstick Watahead Jo’ Mama Hazzard County Goober Jim 100 100 100 200 200 200 300 300 300 400 400 400 500 500 500
Nerdstick for $100 Two ways buyers affect price What is…?
Demand willingness to pay. Back to Game
Nerdstick for $200 Two side effects of a natural disaster on cotton crops. What are…?
Price goes up and quantity supplied decreases Back to Game
Nerdstick for $300 Goods used in place of other products What are…?
…substitute goods Back to Game
Nerdstick for $400 Desire, ability and willingness to buy a product What is…?
demand Back to Game
Nerdstick for $500 Libby would rather have a double whopper than the big mac due to… What is…?
Consumer taste Back to Game
Waterhead for $100 One of the biggest disadvantages of Sammy opening his own archery range. What is…?
Unlimited liability Back to Game
Waterheads for $200 The market for labor would be part of the ______ market. What is…?
Factor market Back to Game
Waterheads for $300 Small increase in price leads to a large change in quantity demanded. What is…?
Price elasticity Back to Game
Waterheads for $400 Business type commonly associated with doctors and lawyers. What is…?
Partnership Back to Game
Waterheads $500 Reginald freely and willingly purchases a mail order bride form a Russian based company on the net. What is…?
Voluntary exchange Back to Game
Your Mama for $100 If the demand moves left, then supply does this. What is…?
decrease Back to Game
Your Mama for $200 The U. S. does not have a pure market economy, but rather this. What is…?
Mixed economy Back to Game
Your Mama for $300 Suppliers will offer more at higher prices as long as there is sufficient demand. What is…?
The law of supply and demand Back to Game
Your Mama for $400 The point where quantity supplied equals the quantity demanded What is…?
Equilibrium Back to Game
Your Mama for $500 The use of this provides an efficient means of economic exchange What is…?
Money Back to Game
Hazzard County for $100 An industry that is dominated by a few large firms What is…?
Oligopolistic competition Back to Game
Hazzard County for $200 I own my own restaurant but have to sell burgers because the corporate office says I have to. I lack these What are…?
Franchise rights Back to Game
Hazzard County for $300 In this type of competition, there is a large number of buyers and sellers with similar products What is…?
Perfect competition Back to Game
Hazzard County for $400 New cancer medication would probably have a very low this What is …?
Price elasticity Back to Game
Hazzard County for $500 The type of competition in which firms can make greater than normal profits for short periods of time What is…?
Monopolistic competition Back to Game
Afflicted for $100 Probably the biggest motivator for business in a market economy What is…?
profit Back to Game
Afflicted for $200 These are things corporations sell to generate money for their company. What are…?
Shares, stocks or bonds Back to Game
Afflicted for $300 If the price of concert tickets goes down, this will increase dramatically What is…?
…demand Back to Game
Afflicted for $400 Cole invests $15, 000 in Reebok. If Reebok goes into debt and experiences bankruptcy, he will only lose $15, 000 because of this What is…?
Limited liability Back to Game
Afflicted for $500 If De- don’t and thousands of others like her get fired for sleeping on the job, this will be the effect on equilibrium price and quantity supplied of dum- dum pops. What is…?
Price will increase and quantity supplied will decline Back to Game
• Final Jeopardy This is the most common type of variable cost a business owner could have to face. . .