;Jeopardy! - DO NOT DELETE THIS LINE! ;Category Titles ;Category 1 Adam Smith ;Category 2 Define ;Category 3 Inflation ;Category 4 technology ;Category 5 Potpourri ;Category 6 Potpourri Part Deux ;Quiz Boxes Questions ;Category 1 - 200 point Question In Adam Smith's analogy of the economy, what image does he use? ;Answer pin factory ;Category 1 - 400 point Question What was one of the three components that Smith pointed out in his analogy? ;Answer divison of labour, nature of wages, international trade ;Category 1 - 600 point Question What force did Adam Smith believe should control the economy, government or free markets? ;Answer free market ;Category 1 - 800 point Question Which of the three types of economies would Adam Smith have favoured? ;Answer market economy ;Category 1 - 1000 point Question What type of economy do we use today? ;Answer mixed economy ;Category 2 - 200 point Question paradigm ;Answer a way of thinking about a particular idea or issue ;Category 2 - 400 point Question mercantilism ;Answer a system dominant in the 18th century where the government controlled the economy ;Category 2 - 600 point Question entrepreneurship ;Answer the process of starting a new business or launching a new product ;Category 2 - 800 point Question enclosure system ;Answer process of big farms buying up little farms ;Category 2 - 1000 point Question putting out system ;Answer people worked from home and sent their work into the cities ;Category 3 - 200 point Question What is inflation? ;Answer when the price for goods, services and/or wages go up ;Category 3 - 400 point Question What kind of inflation happens when the demand for a product goes up, which causes the price to inflate (go up)? ;Answer demand inflation ;Category 3 - 600 point Question What happens when a government decides to simply print more money? ;Answer the money loses its value ;Category 3 - 800 point Question What kind of inflation is it when the cost for materials or wages goes up which causes the price of the product to go up? ;Answer cost push inflation ;Category 3 - 1000 point Question Why is inflation not necessarily a bad thing? ;Answer if everything inflates at the same rate, everyone is fine ;Category 4 - 200 point Question What important invention was created that used a great deal of coal? ;Answer steam engine ;Category 4 - 400 point Question What important invention was created that revolutionized the textile industry? ;Answer spinning jenny ;Category 4 - 600 point Question The creation of the _____________ ______________ allowed for more international trading. ;Answer stock exchange ;Category 4 - 800 point Question What new type of iron was invented that used a new smelting process? ;Answer pig iron ;Category 4 - 1000 point Question What specific farming practice allowed for increased yields? ;Answer crop rotations and/or fallowing ;Category 5 - 200 point Question What does division of labour refer to? ;Answer giving each person a specific job (assembly line) ;Category 5 - 400 point Question What does the nature of wages refer to? ;Answer each employee should be paid for their specific job ;Category 5 - 600 point Question dandellions, grass, and bark are all examples of what type of food? ;Answer famine food ;Category 5 - 800 point Question Who won the Seven Years War? ;Answer Great Britain ;Category 5 - 1000 point Question What do workers create when they band together to fight for specific rights? ;Answer union ;Category 6 - 200 point Question Provide one idea popular during the traditional paradigm. ;Answer answers may vary ;Category 6 - 400 point Question Provide one idea popular during the mercantilist paradigm. ;Answer answers may vary ;Category 6 - 600 point Question Provide one idea popular during the market paradigm. ;Answer answers may vary ;Category 6 - 800 point Question How were women's roles changed during the Industrial Revolution? ;Answer traditional work changed, many moved to cities ;Category 6 - 1000 point Question Why is inflation bad for savings? ;Answer the value of your money can go down ;Quiz Boxes Breaker Question Provide three reasons why children were hired at such a high rate during the Industrial Revolution. ;Answer they were small, they worked for little money, they were less likely to organize