JEOPARDY!
Click Once to Begin
Free Enterprise
Template by
Bill Arcuri, WCSD
JEOPARDY!
Government
Facets
Profit
Competition
Taxes
Odds/Ends
100
100
100
100
100
100
200
200
200
200
200
200
300
300
300
300
300
300
400
400
400
400
400
400
500
500
500
500
500
500
Intervenes
Template by
Bill Arcuri, WCSD
“This facet allows us to make
our own choices about what
we buy, when we go into
business, types of jobs we
strive for, etc .”
What is Freedom of Choice ?
Template by
Bill Arcuri, WCSD
“This facet encourages
us to go into business
for ourselves .”
What is the Profit Motive?
Template by
Bill Arcuri, WCSD
“This facet results in little
regulation or interference .”
What is Limited
Government Control?
Template by
Bill Arcuri, WCSD
“This facet determines the
prices of goods & services
in our economy .”
What is the Open
Market (Supply & Demand)?
Template by
Bill Arcuri, WCSD
“This facet makes us
lower our prices and
improve our service to
the customer .”
What is Competition?
Template by
Bill Arcuri, WCSD
“The money it takes to
get merchandise into our
store.”
What are Costs ?
Template by
Bill Arcuri, WCSD
“The money it takes to
run or operate our
business.”
What are Business
Expenses (Overhead) ?
Template by
Bill Arcuri, WCSD
“The
amount of money we
make after just the cost of
goods is subtracted.”
What is Gross Profit ?
Template by
Bill Arcuri, WCSD
“The amount of money we
make after the cost of goods
and business expenses
(overhead) are subtracted.”
What is Net Profit?
Template by
Bill Arcuri, WCSD
“The amount of money a
business takes in from the
sales of its goods and
services.”
What is Income ?
Template by
Bill Arcuri, WCSD
“A rivalry between two or more
companies to attract
customer’s scarce or limited
dollars.”
What is Competition ?
Template by
Bill Arcuri, WCSD
“As customers, we enjoy certain things
because of competition. They include:
1. New products
2. Lower Prices
3. Better Customer Service
4. Higher quality
These are called __________.”
What are Benefits ?
Template by
Bill Arcuri, WCSD
“If there is no competition, a
company is said to have this.”
What is a Monopoly ?
Template by
Bill Arcuri, WCSD
“Exxon lowered its price of
gas last week; Shell followed
suit the following day. That’s
a good example of this.”
What is Price
Competition ?
Template by
Bill Arcuri, WCSD
“A bowling alley wants the
same limited customer dollars
as a movie theater. This is a
good example of this.”
What is Non-price or
Indirect competition ?
Template by
Bill Arcuri, WCSD
“This 1890 Act outlaws
agreements that would promote
monopolies.”
What is the Sherman AntiTrust Act ?
Template by
Bill Arcuri, WCSD
“This government agency
regulates electronic media
such as TV, radio, cable, etc.”
What is the Federal
Communication Commission
(FCC). ?
Template by
Bill Arcuri, WCSD
“This government agency
watches out for workers
to make sure they are
safe on the job.”
What is Occupational Safety
& Health Administration
(OSHA) ?
Template by
Bill Arcuri, WCSD
Daily Double!!!
“This government agency
regulates the sales of
stocks & bonds.”
What is the Securities &
Exchange Commission
(SEC) ?
Template by
Bill Arcuri, WCSD
“This type of law
protects a company’s
symbols or name.”
What is Trademark ?
Template by
Bill Arcuri, WCSD
“A tax that is levied
against the money
someone makes.”
What are Income Taxes ?
Template by
Bill Arcuri, WCSD
“A tax that is levied against
the money taken in by a
business for the selling of a
good or service.”
What is a Sales Tax ?
Template by
Bill Arcuri, WCSD
“A
tax that is levied
based on the value of
your home, car, or other
possession.”
What are Property Taxes ?
Template by
Bill Arcuri, WCSD
“This type of tax hurts the
poorest members of our
country the most.”
What is a Regressive Tax ?
Template by
Bill Arcuri, WCSD
“A tax that is levied against a
business is paid for by these
people.”
Who are the Customers ?
Template by
Bill Arcuri, WCSD
“The gamble a person
takes when he/she
decides to invest their
money in a business.”
What is Risk ?
Template by
Bill Arcuri, WCSD
“We could:
1. Increase Sales
2. Increase Productivity
3. Increase Efficiency
. . . if we want to do this.”
What is Increase Profits ?
Template by
Bill Arcuri, WCSD
“Laws that dictate how a piece
of property can be used by a
business. In other words, what
type of business can be
located where.”
What is Zoning ?
Template by
Bill Arcuri, WCSD
“This is required to work
in or operate certain
types of businesses.”
What is a License ?
Template by
Bill Arcuri, WCSD
“This act outlawed false
or misleading
advertising.”
What is the Wheeler-Lea Act ?
Template by
Bill Arcuri, WCSD