Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

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.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
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

civics chapter 18

need things that are required to have like food, clothing and shelter.
want things we would like to have like entertainment.
economics the study of how we make decisions in a world in which resources are limited.
microeconomics the study of behavior and decision making of small units such as individuals and businesses. (little picture)
macroeconomics deals with economy as a whole and decision making by large units such as governments or whole industries or societies(big picture)
economic model is a theory that tries to explain human economic behavior.
economics system way of producing the things its people want and need.
resource things used in making goods and providing services.
scarcity occurs whenever we do not have enough resources to produce all the things we would like to have.
trade-off is the alternative you face if you decide to do one thing rather than another.
oppportunity cost the cost of the next best use of your time or money when you choose to do one thing rather than another.
marginal benefit the additional satisfaction or benefit received when one more unit.
cost-benefit analysis economic model that compares the marginal costs and marginal benefits of a decision.
marginal cost the additional cost of producing one additional unit of output.
Created by: cierreadouglas
Popular History sets




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:
restart all cards