Save
Busy. Please wait.
Log in using 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
share
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

Economics 2 mmp

TermDefinition
Non-durable good last less than three years with regular use
specialization people do whatever task they are able to do best
Division of labor workers perform fewer task more frequently
Free enterprise system one in which consumers and private business make the majority of the economic decisions
Traditional economy nearly all economic activity is done based on custom, ritual and habit
Command economy government makes nearly all the economic
Market economy people and firms act in their own best interest
Economic questions what, how, for whom
capitalism a system in which private citizens own the factors of production
Private property the idea that people have the right to control their possessions as they wish
Profit the extent to which a person or business is better off at the end of a period than at the beginning
Mixed economy a combination of command and market economies, some government decision making, some private ownership of resources
Sole proprietorship a business owned and run by one person
Partnership a business that is owned by 2 or more people
Corporation a form of business organization that has all the legal rights of an individual
stock pieces of ownership of a firm
Stock holders people who buy stock
Dividend a check paid to the stockholders when the company makes a profit
Merger 2 or more businesses join to form a single firm
Horizontal merger involves businesses that make the same product or provide the same service
Vertical merger firms that do different steps in a production process merge
Conglomerate a firm that has at least 4 businesses, each making unrelated products
Non profit organization a business that does not seek financial gain for its members
Labor union an organization formed to work for its members interest in various employment matters
Collective bargining negotiations between labor and management
 

 



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