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A fun and challenging final Jeopardy game for entrepreneurs and anyone interested in business. Test your knowledge on setting up a business, supply and demand, stock market, and more. Join the pot luck and win big!
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Jeopardy F I N A L J E O P A R D Y ENTREPRENEURS SETTING UP A BUSINESS SUPPLY/DEMAND STOCK MARKET POT LUCK $100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500
$100 Question Cat 1 If price goes up, what happens to supply? main board Answer
$100 Answer Cat 1 Supply goes up as well… main board
$200 Question Cat 1 What are the 3 “mixed” economic systems that we’ve studied this semester? main board Answer
$200 Answer Cat 1 -capitalism -socialism -communism main board
$300 Question Cat 1 -Another name for the market clearing price is the: main board Answer
$300 Answer Cat 1 Equilibrium price! main board
$400 Question Cat 1 -Something that is elastic in demand often has the following 3 characteristics: What are they? main board Answer
$400 Answer Cat 1 -many substitutes -expensive -time to plan (don’t need to buy in now!) main board
$500 Question Cat 1 -Name 2 of the 3 main causes for a shift in supply: main board Answer
$500 Answer Cat 1 -change in marg. cost of production -change in # of sellers -change in expectations main board
$100 Question Cat 2 -What percentage of small businesses fail in the first 2 years? main board Answer
$100 Answer Cat 2 30-50% main board
$200 Question Cat 2 Which type of business type has the most numbers in the US? main board Answer
$200 Answer Cat 2 -sole proprietorships main board
$300 Question Cat 2 IPO stands for? main board Answer
$300 Answer Cat 2 Initial public offering main board
$400 Question Cat 2 Difference between “push” and “pull” production? main board Answer
$400 Answer Cat 2 “Push” production is when manufacturer forces goods on retailer…”pull” production is when big box retailer tells manufacturer what to produce… main board
$500 Question Cat 2 Largest draw back (con) about setting up either a sole proprietorship or a partnership? main board Answer
$500 Answer Cat 2 unlimited liability main board
$100 Question Cat 3 Who set up and started Fed Ex? main board Answer
$100 Answer Cat 3 Fred Smith main board
$200 Question Cat 3 Name of the teenage entrepreneur that set up Eden Body Works? main board Answer
$200 Answer Cat 3 Jasmine Lawrence main board
$300 Question Cat 3 Term for an entrepreneur who uses fame/fortune to help improve society…give back. main board Answer
$300 Answer Cat 3 philanthropist main board
$400 Question Cat 3 2 main benefits of buying into a franchise? main board Answer
$400 Answer Cat 3 -they train your employees -they advertise for you -name is already established main board
$500 Question Cat 3 -Name 2 main cons of setting up a corporation: main board Answer
$500 Answer Cat 3 -double taxation -cost/paperwork main board
$100 Question Cat 4 What is the term for spreading your money around and not “putting all your eggs in one basket?” main board Answer
$100 Answer Cat 4 diversify main board
$200 Question Cat 4 In our stock market game online, what was the least number of shares you could buy of any one stock at a time? main board $200 Answer Cat 4Answer
$200 Answer Cat 4 -100 shares main board
$300 Question Cat 4 -What are the 3 main things to consider when looking to save/invest your money? main board Answer
$300 Answer Cat 4 -safety/risk -liquidity -rate of return main board
$400 Question Cat 4 What is the biggest con of investing in a certificate of deposit? main board Answer
$400 Answer Cat 4 -penalty for taking it our early…not as liquid main board
$500 Question Cat 4 Best way to make money by investing in property? main board Answer
$500 Answer Cat 4 -renting it out… main board
$100 Question Cat 5 -Studying the unemployment rate in the US would fall under which? -macroeconomics or -microeconomics main board Answer
$100 Answer Cat 5 macroeconomics main board
$200 Question Cat 5 Who wrote “The World Is Flat?” main board Answer
$200 Answer Cat 5 Thomas Friedman main board
$300 Question Cat 5 -Another term for supply/ demand…used by Adam Smith in describing how jobs are filled and things get accomplished… main board Answer
$300 Answer Cat 5 Invisible hand main board
$400 Question Cat 5 What was the original minimum wage in 1938? main board Answer
$400 Answer Cat 5 ----25 cents main board
$500 Question Cat 5 Which type of unemployment is the worst and define: main board Answer
