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

business vocab 1

TermDefinition
Capitalism the private ownership of resources by individuals, rather than the government
Command Economy an economy in which resources are owned and controlled by the government
Consumer a person who buys and used goods and services
Demand the quantity of a good or service that consumers are willing and able to buy
Economic Decision-Making the process of choosing which wants, among several opinions, will be satisfied
Economic Resources the means through which goods and services are produced
Economic System a nation's plan for answering the three economic questions
Goods things you can see and touch: they are products you can purchase to meet your wants and needs
Market Economy an economy in which the resources are owned and controlled by the people of the economy
Market Price the point where supply and demand are equal
Mixed Economy an economy that combines elements of the command and market economics
Needs things that are required in order to live
Opportunity Cost the value of the next-best alternative that you did not choose
Producers individuals and organizations that determine what products and services will be available for sale
Scarcity not having enough resources to satisfy every need
Services activities that are consumed at the same time they are produced
Supply the quantity of a good or service that businesses are willing and able to provide
Trade Off what you make when you give something up to have something else
Traditional Economy an economy in which goods and services are produced the way they have always been produced. it is used in countries that are less developed and are not participating in the global economy
Wants things that add comfort and pleasure to your life
Created by: kisland17
Popular Business 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