Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
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. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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

Unit 5/10

Economics

QuestionAnswer
Market Economy Supply and demand determine which products are produced, how are they produced, and for whom they are produced
Command Economy Government planners decided which goods to produce, how to produce them, and for whom to produce
Traditional Economy Traditions and cultural beliefs determine which goods are made, how they are made, and for whom they are made
Mixed Economy An economy that has aspects of market, traditional, and command economies present
Specialization When a country focuses on producing the items they can make easily and trade for the things they need
Trade Barriers Anything that makes trade more difficult; can be physical or economic
Physical Trade Barriers Any type of physical feature, like deserts or mountains, that make trade more difficult
Tariff A type of trade barrier where a country places a tax on imported goods
Quota A type of trade barrier where the amount of imported goods from a country is limited
Embargo A type of trade barrier where a country refuses to trade with another country; this is politically driven and only the President can make this decision
Human Capital The value of a person's skills and education
Capital Goods Goods that are used to make other goods (Examples: machinery, factories, tools)
GDP Gross Domestic Product (GDP) is the total value of the goods and services produced within a country in a year
Natural Resources A material that occurs in nature, raw materials (Examples: lumber, fossil fuels, minerals)
Entrepreneurship A person that takes a risk with his/her personal money to open a new business or provide a service
Export Goods that are produced in a country and shipped to other countries
Import Goods that brought into a country from another country
Economics the study of making, buying, and selling of goods and services
currency money circulated in a country used to purchase goods and services
supply the amount of good you have in stock
demand how much a good or service is wanted by consumers
Created by: KimberleyAWELCH
Popular Economics sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards