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End of Term Quiz

Trophies

Copyright: Roy Mattappallil

This interactive, end of term quiz is a test of students' knowledge of business and economics terminology. Exactly how you use the games is up to you - there could be a number of variations which are suggested below. Essentially, there are two quizzes - one designed to be used with two teams/individuals playing against each other, and the second for one team/individual playing against the clock.

Game One

This game is made up of 20 octagons with letters on which students must select and answer questions on. The aim of the game is either to get from one side to the other, or from the top to the bottom.

You could have two evenly matched teams trying to move from left to right, or a larger team moving from left to right and a smaller team from top to bottom. However, they can only move to an octagon adjacent to the one they are on, or start all over again from either the left hand side or the top (depending on how you're playing the game) if they reach a dead end.

Each team/individual should select their colour - they can either be blue or yellow. If the team answers correctly, they should click on that octagon to change it to the colour of their team. This can be done by one click for blue, and two clicks for yellow. If the team answers incorrectly, they should click on the octagon three times to turn it dark brown.

You can also control the exercise using the keyboard tab between octagons. To change the colour of an octagon press the spacebar and to reset the resource use the delete key.

Please note: to make full use of the activity, your system must have Macromedia Flash Player 6 (or higher) installed - this can be obtained from the Macromedia Web site. Interactive Macromedia Flash resources developed by Biz/ed are designed to work both with and without the use of a mouse and be compatible with as many assistive technologies as possible (further information on our accessibility features is available). If you cannot view the interactive resource for whatever reason, please view the static version instead.

Play Game One...

A list of questions to use is available below, or you could make up your own using the glossary for inspiration.

Questions

  • A: What A describes the profits that exceed the amount a firm must receive in order to carry on production?
  • O: What O is hours of work undertaken above standard working hours?
  • F: What F is a retail term meaning the number of shoppers entering a store or shopping mall?
  • D: What D is the want, need or desire for a product that is backed by an ability to pay?
  • S: What S are individuals and organisations with an interest in the activities of a company?
  • T: What T is a tax on goods imported into a country?
  • P: What P was an Italian economist concerned with welfare economies?
  • J: What J is demand where goods are complements?
  • B: What B describes economic activity that has not been recorded through the tax system or other conventional means of recording?
  • N: What N describes the most liquid forms of money, such as notes and coins?
  • E: What E indicates how one variable responds to a change in another variable?
  • L: What L is a curve showing the income distribution of a country?
  • K: Which K changed the face of post-war economic policy?
  • M: What M is an industry where one firm produces the entire output of a market?
  • C: What C is one of the factors of production?
  • R: What R is the money received from the sale of output?
  • Q: What Q is a limit on the amount of a good produced, imported, exported or offered for sale?
  • G: What G is the growth of inter-dependence amongst world economies?
  • H: What H describes a merger when two firms at the same stage of production join together?
  • I: What I is a rise in general prices and a reduction in the value of money?

Game Two

The winning team/individual then has the chance to really show their skill and go on to play the final game, which could be played against the clock.

The principles are the same as in the first game in terms of traversing the board. However, as it's designed to be played by one team/individual, one click of the mouse will turn an octagon yellow, for a correct answer, and a second click will turn it dark brown, for an incorrect answer.

You can also control the exercise using the keyboard tab between octagons. To change the colour of an octagon press the spacebar and to reset the resource use the delete key.

Please note: to make full use of the activity, your system must have Macromedia Flash Player 6 (or higher) installed - this can be obtained from the Macromedia Web site. Interactive Macromedia Flash resources developed by Biz/ed are designed to work both with and without the use of a mouse and be compatible with as many assistive technologies as possible (further information on our accessibility features is available). If you cannot view the interactive resource for whatever reason, please view the static version instead.

Play Game Two...


Questions

  • AD: What AD is the total of all desired expenditure at any time by all groups in the economy?
  • OC: What OC is the decision to produce or consume a product that involves giving up another product?
  • PED: What PED measures the responsiveness of demand to a given change in price?
  • DC: What DC is all the money spent that is associated with the production of the business's service or product?
  • SC: What SC are the total of private costs and any external costs?
  • BS: What BS is a financial snapshot of a company's financial situation and gives assets and liabilities at that moment in time?
  • NPV: What NPV is the value today of a series of future incomes and expenditures?
  • FP: What FP is action taken by the government to influence the level of economic activity through changing government income and expenditure?
  • BOE: What BOE is the central bank of the UK?
  • HDI: What HDI was introduced by the UN to take into account not only the goods and services produced but also the ability of a population to use these and the time they have to enjoy them?
  • EOS: What EOS is a reduction in long run unit costs which arise from an increase in production?
  • XI: What XI is when a firm fails to produce on the lowest possible average and marginal cost curves?
  • ER: What ER is the price of one currency in terms of another currency?
  • BTE: What BTE are obstacles making it harder for new firms to join an industry?
  • DOL: What DOL is the allocation of tasks or jobs to particular people?
  • CC: What CC conducts inquiries into mergers and markets in the UK?
  • OI: What OI is a situation where labour cannot move freely from one job to another?
  • PPP: What PPP compares the standard of living between countries by taking into account both the differences in wages and the differences in cost of living?
  • PC: What PC shows a trade-off between unemployment and inflation?
  • NPM: What NPM measures trading profit relative to sales revenue?