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

Preble SS9: Econ (C)

Economics

QuestionAnswer
Economics how resources are used to meet the needs and wants of a group of people
Scarcity not enough of something to meet everyone's wants and needs
Goods an item for sale that can be touched
Service to pay for work done by someone else
Production the making of something
Factors of production any resource that is needed to make a good or provide a service
Land natural resource not created by human beings
Labor how people are paid to do work
Capital money, equipment, buildings, etc. to run a business
Entrepreneurship one who starts a business or other venture that promises economic gain but that also includes risks
Consumer one who buys or uses resources, goods, or services
Needs something that is necessary to live
Wants something that one would like
Opportunity cost what is given up when we purchase a good or service
Demand the amount of goods and services that people are willing and able to buy
Law of demand as prices increase, the amount people are willing and able to buy will go down.
Supply the amount of goods and services available for sale
Law of supply as prices increase, the amount available for sale will go up as prices go down.
Labor Force the body of people who are either employed or available for employment
Industry systematic work or labor
Agriculture the production of crops, livestock, or poultry; farming
Gross Domestic Product/GDP the total value of all goods and services produced domestically by a nation during a year
Exchange Rate the ratio at which a unit of the currency of one country can be exchanged for that of another country
Created by: staatc60
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