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					           Jeopardy
Basics               decisions   Anythings other
         Invention   Decisions   Possible Stuff
         s
Q $100     Q $100    Q $100      Q $100    Q $100

Q $200    Q $200     Q $200      Q $200    Q $200

Q $300    Q $300     Q $300      Q $300    Q $300

Q $400    Q $400     Q $400      Q $400    Q $400

Q $500    Q $500     Q $500      Q $500    Q $500

                                          Final Jeopardy
                $100

Milk producers who reduce
production of milk in response to
government efforts to keep prices low
had led to this condition.
          $100



What is a shortage?
          $200



Land, labor, human-capital
and physical capital
          $200



What are factors of production
or productive resources?
          $300



22% of the population in
Ethopia have sustainable
access to this scarce
resource.
      $300


What is water?
           $400



Increased productivity, knowledge,
And efficiency are benefits of this
Productive resource.
     $400


What capital?
          $500



This constant condition is
considered the fundamental
problem that all economies
face.
       $500


What is scarcity?
          $100




Bill Gates, Sam Walton, and Mark
Zuckerberg, combined these
In order to create new and innovative
Enterprises.
          $100



What are the factors of production?
    $200



Risk-taker.
          $200



What is a word that describes
an entrepreneur?
                $300


Interchangeable parts and the
assembly line were production methods
first revolutionized by this 18th century
patriot.
         $300



Who was Eli Whitney?
           $400



Entrepreneurs are good at
recognizing ______ and _____
For certain goods and services.
          $400



What are needs and wants?
              $500


This highly successful entrepreneur
recently announced his retirement.
as the CEO of Apple.
       $500


Who is Steve Jobs?
                   $100
My first choice is to spend my vacation
in San Diego, my second choice is to go on
a Caribbean cruise and my third choice
Is to go salmon fishing in the Kenai River.
If I end up going to San Diego, this is the
Opportunity cost of that decision.
          $100



What is a Caribbean cruise?
                 $200

If the Pentagon makes the decision to
close down the Air Force refueling
station at Grissom Air Force Base
 to expand the state prison to house
more convicts he is making this type
 of decision.
          $200



What is “guns or butter”?
           $300



The act of giving up one benefit
In order to gain another, greater
Benefit.
          $300



What is making a trade-off?
              $400
A newspaper publisher is
contemplating expanding its
territory by either a 10 mile,
20 mile, or 30 mile radius. What
Is this process called?
           $400


What is thinking at the margin?
           $500



The additional satisfaction, profit,
or utility derived from purchasing
one more unit of a good.
          $500



What is marginal benefit?
           $100



The line along the production
possibilities curve that represents
maximum possible output an
economy can produce.
           $100



What is the production possibilities
frontier?
               $200

Explains why the production
possibilities curve is bowed outward.
           $200



What is the law of increasing
Costs?
     The blue arrows illustrate this
      economic principle. $300

20



15


10


5




0          5    10    15    20    25
           $300



What is the law of increasing
cost?
     Point B represents this. $400

20



15

               B
10


5




0          5   10    15    20   25
           $400



What is underutilization
           $500



When an economy uses fewer
Resources than it is capable of
Using.
          $500



What is underutilization?
               $100


A graph that shows alternative
Ways to use an economy’s productive
resources.
           $100



What is the production possibilities
curve?
              $200


Nissan has been moving engineering
Operations to this country in order to
Expand their production capacity.
         $200



What is VietNam?
           $300



Many governments invest in this
To increase its country’s efficiency.
       $300


What is technology?
          $400



This popular practice by auto makers
Has led to more jobs in the under-
Developed world.
         $400



What is outsourcing?
          $500



Efficiency is achieved by putting
These to their most productive use.?
          $500



What are resources?
  Final Jeopardy


 15 The author of
Freakonomics
Final Jeopardy Answer

Who is Steven Levitt?

				
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posted:10/10/2011
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