wheel of fortune rules

Wheel of Fortune Rules• Teams consist of groups of 3.

• If a team gets the Question correct, you get to spin.

• If a team gets the Question incorrect, other teams can earn 50 points by writing the correct answer on their whiteboard. Teams have 10 seconds to record their answer.

And now..our hosts! Pat and Vanna!

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End Game

Back to the Back to the BoardBoard

TIME TO PLAY TIME TO PLAY “Wheel of “Wheel of Fortune!”Fortune!”

• Here are the questions for the game. You may choose them at random. Once a question is picked, you may not pick it again….Good Luck!!!!!!!!

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37 38 39 40

Question #1Question #1

- Combination of desire, ability, and willingness to buy a product?

Correct! Let’s Spin!

Sorry - 100 pts. Back to the Questions


- Decrease in satisfaction or usefulness from having one more unit of the same product




- Type of elasticity where a change in price causes a relatively larger change in quantity demanded?




- That part of a change in quantity demanded due to a price change that makes other products more or less costly




- What causes a change in demand?




- What is the issue with measuring marginal utility according to economists?




A. (Q1-Q2) / (Q1+Q2) ÷ (P1-P2)/(P1+P2)B. (Q1+Q2) / (Q1-Q2) ÷ (P1+P2)/(P1-P2)C. (P1-P2)/(P1+P2) ÷ (Q1-Q2) / (Q1+Q2)D. (P1+P2)/(P1-P2) ÷ (Q1+Q2) / (Q1-Q2)?




- If PEoD = 1, then…?




- What are 2 of the 3 ?’s/Determinants of Demand Elasticity?




- Extra output due to the addition of one more unit of input?



Question #11Question #11- Broad category of fixed costs that includes rent, taxes, and executive salaries?




- Production level where total cost equals total revenue?




- Decision making that compares the extra costs of doing something to the extra benefits gained?




- Name this jingle…- http://www.youtube.com/watch?v=MTa4FyuflIM

Let’s Spin!


http://www.youtube.com/watch?v=MTa4FyuflIM


- Amount of a product offered for sale at all possible prices?




- Which of the following is not true about reasons for a change in supply?

• Cost of Resources• Productivity• Technology• Taxes & Subsidies• Previous Sales• Government Regulations• # of Sellers




- How does the cost of resources affect the quantity offered for sale?



Question #18Question #18- What are 3 of the 4 measures of cost?




- What are the 3 stages of production?




- How does changing one variable affect the other variable inputs of a firm?




- A business must know this in order to keep in business?




- Low overhead, less inventory, and low rent or only the need for the Internet is a benefit of?




- Utilizes Greek mythology’s Siren and company has stated that this was done to show the company's heritage from the Pacific Northwest and to celebrate 35 years of business.




-Congratulations! Free spin without answering a question

Let’s Spin!

Question #25Question #25-Utilized this as their 1st logo and today is the largest in their venue by serving around 68 million customers daily in 119 countries?




-System of allocating goods and services without prices?




- Partial refund of a product’s original price?




- Price where quantity supplied equals quantity demanded?




- Highest legal price that can be charged for a product?




- Name 3 of the 4 programs intended to help farmers here in the U.S.?




- Shares too small, costs, loss of incentive to work are all problem with?




- Which of the following is not a factor that could disturb the equilibrium market?

• New competitors entering the market• Technological improvements• Drop in wages• Inflation




- Movie that demonstrates “when markets talk”…ie frozen concentrate orange juice in this stock market movie?




- Requirement that a business reveal information about its products or its operations to the public?




- Goods or services whose benefits are available to everyone and are paid for collectively?




- What does FCC stand for?




- What does OSHA stand for?




- Practice of selling the same product at different prices to different buyers?




- Name this jingle:



wheel of fortune rules

Documents

question incorrect

p1 p2p1p2 q1 q2 q1q2

q1q2 q1 q2 p1p2p1 p2b

q1 q2 q1q2 p1 p2p1p2c

correct answer

p1p2p1 p2 q1q2 q1 q2d

price change

larger change