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
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

Partners in Trade

All about Trade

TermDefinition
Trade The exchange of something of value
Specialization The concentration of production on fewer kinds of goods and services than are consumed
Interdependence Reliance on others to satisfy wants
Production The act of combining natural resources, human resources, capital goods and entrepreneurship to make goods and services
Consumption The purchase or use of goods and services
Goods Objects that are capable of satisfying people's wants
Services Actions that are capable of satisfying people's wants
Market The interaction of buyers and sellers exchanging goods and services
Market Clearing Price for Goods The one price at which quantity supplied equals quantity demanded (also referred to as the equilibrium price)
Opportunity Cost The value of the next best alternative given up when a choice is made
Supply The quantities of a good or service that producers are willing and able to provide at various prices during a given time period.
Demand The quantities of a good or a service that consumers are willing and able to buy at various prices during a given period.
Import Goods that are brought into a country as part of a trade
Export Goods that leave the country as part of trade
Scarcity The lack of sufficient resources to produce all the goods and services people desire.
Created by: celordan
Popular American Government 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