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

7-1.4 Burnette

Capitalism

TermDefinition
Capitalism a type of economy in which the means of production (land, factories, and natural resources) are privately owned and operated for profit in a competitive market
Middle Class a group of merchants and artisans who earned their income (money) by investing or working in commerce (trade)
Profit making money; when a business or person sells a good (product) or service for more money than it cost them to make or acquire (get)
Economy the organized way in which a people produce, sell, and buy goods and services
Mercantilism the theory that a nation became richer and more powerful by regulating trade so that it had a favorable balance of trade (having more valuable exports than imports) so it could build up its supplies of bullion (gold and silver)
Government the system through which a nation, state, or community is ruled; how power is given, shared, and exercised
Regulate when the government controls something or sets up rules saying how it can be done
Merchants persons who buy and sell goods (products) for profit (to make money)
Market Economy a system in which individual buyers and sellers interact in the marketplace to exchange (trade) goods and services (goods: products or things; services: work done or provided for a fee (payment)
Competitive Market when two or more businesses are competing to make the product or provide the service that is best or costs the least amount of money
Wages money paid for labor or work
Natural Resosurces materials such as minerals, forests, water, and land found in nature and used by man
Prerequisite something that has to happen before something else can happen
Supply and Demand determines the price of a good or service in a free market; when demand is greater than supply, prices rise; when supply is greater than demand, prices fall.
Means of Production factories, land, and natural resources used to make products (goods)
Joint Stock Company where people pooled (put together) their money so that larger enterprises (businesses) were possible and their risk was limited; they made capitalism more practical (doable)
Free Enterprise the freedom of private business to compete for profit without government involvement
Commercial Revolution when European countries began to buy and sell large quantities (amounts) of goods over long distances; it led to booms and busts (high and low points) in economies, and people began to work for wages (money)
Private Property land or belongings owned by a person or group and not the government
Pure Capitalism a type of capitalism where property is privately held, businesses have the freedom to act as they want, and the government does not or only rarely interferes with business
Social Market Capitalism a type of capitalism in which the government provides forms of social security, unemployment insurance, and recognition of labor rights while most businesses are still privately owned
Mixed Economy an economy which has components (parts) of social market capitalism, along with strong government regulation of business, and the government tries to control the economy through taxes, spending, setting interest rates, and adjusting the money supply
Created by: oburnette
 

 



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