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

Chapter 23

Civics and Economics chapter 23 definitions

Private Good goods that, when consumed by one individual, cannot be consumed by another
Public Good economic goods that are consumed collectively, such as highways and national defense
Externality the unintended side effect of an action that affects someone not involved in the action
Monopoly when the market creates a sole provider for a good or service
Antitrust Law legislation to prevent new monopolies from forming and police those that already exist
Merger a combination of two or more companies to form a single business
Natural Monopoly a market situation in which the costs of production are minimized by having a single firm produce the product
Recall situation in which a company pulls a product off the market or agrees to change it to make it safe
Real GDP GDP after adjustments for inflation
Business Cycle Alternating periods of growth and decline that the economy goes through
Civilian Labor Force all civilians 16 years old or older who are either working or are looking for work
Unemployment Rate the percentage of people in the civilian labor force who are not working but are looking for jobs
Fiscal Policy the federal government's use of spending and taxation policies to affect overall business activity
Inflation sustained increase in the general level of prices
Consumer Price Index (CPI) measure of change in price over time of specific group of goods and services
Food Stamps government coupons that can be used to purchase food
Women, Infants, and Children (WIC) a program that provides help for nutrition and health care to low-income women, infants, and children up to age 5
Workfare programs that require welfare recipients to exchange some of their labor in return for benefits
Progressive Income Tax a tax that takes a larger percentage of higher incomes than lower incomes
Earned Income Tax Credit (EITC) a program that gives tax credits and even cash payments to qualified workers
Created by: alexislloyd