Busy. Please wait.

Forgot Password?

Don't have an account?  Sign up 

show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.

By signing up, I agree to StudyStack's Terms of Service and Privacy Policy.

Already a StudyStack user? Log In

Reset Password
Enter the email address associated with your account, and we'll email you a link to reset your password.

Remove ads
Don't know (0)
Know (0)
remaining cards (0)
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

American Economy MB

Key terms for economics

economy social science concerned with the way society chooses to make use of limited resources to produce goods and services for present and future consumption.
scarcity an insufficient supply (shortage). This is a basic economic problems that arise because people have unlimited wants but resources are limited
market economy an economic system in which economic decisions and pricing of goods and services are guided soley by natural force in our society such as competition
command economy an economic resources and business activity are controlled by the government
revenue the amount of money this is
bond a debt investment in which an investor loans money to; last for a long time before you can use it
stock market a market in which shares are issued and traded either through exchange or over the counter markets; provides companies we access to capital and investers w/o slice ownership of the company
stock a share in ownership of a company
speculation the process of selecting investments with a higher risk in order to profit from an anticipated price movement
consumer an individual who buys products or services
consumer price index (CPI) the measure that examines the weighted average of prices of a basket of consumer goods and services
labor workers considered as a group
union bargain with management to protect the interest of a group
unemployment the total labor force that is unemployed but looking for a job
income economic wealth that is generated in exchange for an individual's performance, or agreed upon activity or through investing capitol
wealth the amount of money, valuable possessions, property or other riches
factory system industrial manufacture of goods whereby each worker creates on piece or part of the overal finished goods
profit the money made after paying for the cost of manufacture
debt when someone owes; amount of money borrowed by one party from another
deficit the amount by which expenses exceeded income
inflation the rate at which the general level of prices for goods and services is rising and substantially purchasing power is failing
deflation decline in prices caused by the reduction in the supply of money or credit
recession a significant decline in activity across the economy; lasts longer than a few months
depression a severe prolonged recession characterized by inefficient economic productivity, high unemployment, and falling price levels
gross domestic product (GDP) basic measure of a country's overall economic performance
Created by: tbozarth