Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

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.
We do not share your email address with others. It is only used to allow you to reset your password. For details read 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 (0)
Remaining cards (0)
Know (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

Economics key terms

Scarcity the conditions that result from a society not having enough resources to produce things for wants
Economics the study of how people try to satisfy what appears to be seemingly unlimited an completing wants through the relative use of scarce resources
productivity the measure of the amount of output produced by a given about of inputs over a specific area of times
opportunity cost the cost of the next best alternate use of money, time or resources when a choice is made rather than another
mixed economy people carrying on their economic affairs freely but are subject to some government interference
law of supply the principle that states that as the price of an item increases, so will the amount of the item producers are willing to suplly and vice versa
law of demand the principle that as the price of an item increases, a smaller quantity of the item will be purchased and vice versa
factors of production the resources needed to produce goods and services such as land, labor, capitol, and the entrepreneur
deficit budget when the government spends more money than it collects in income for one year
demand schedule a table that shows how much of a product consumers will demand at varous possible prices
supply schedule a table that shows how much of a product suppliers will offer at various possible prices
Created by: hermelinda



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