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.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
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 A method used to make money by making and selling goods or services to consumers. (people)
economic system system we use to make and sell goods to people. Most economic systems use money to buy goods
factors of production the things needed in order to produce a good or service
Capitalism/Free Market Economy an economic system that allows supply and demand to regulate prices, wages, etc.
Socialism/Mixed Economy economic system in which there is a variety of control over the economy
Command Economy A system in which the government makes decides how to run the economic activity of a country.
goods a physical (tangible) product (ex. book, pencil, peanut butter)
services non physical purchase (ex. tutoring, restaurant service)
land soil, forests, rivers, mines, etc.
labor mental or physical work done for income (workers)
capital man made means of production (factories, etc.
entrepreneurship ideas
business cycle the idea that economy is not stable; rather, it changes from good times to bad times
boom good times in an economy
bust bad times in an economy
laissez-faire ”government hands off”; government should not have a hand in business
corporation business owned by investors who buy part of a company through shares of stock
stock share of a company
monopoly/trust company that wipes out competitors and controls and industry
Andrew Carnegie Captain of Industry; formed a monopoly in the steel industry; Carnegie Steel
John D. Rockefeller Captain of Industry; formed a monopoly in the oil industry; Standard Oil Company
vertical and horizontal integration a way of eliminating competition by eliminating middle men and other companies
Golden Age a time of growth and good times
Gilded Age A time when everything appears to look great, but when you really look to the inside there are problems
union group of workers with like goals to fight for workers’ rights
collective bargaining a process where union leaders and business owners sit down and compromise to solve problems
Knights of Labor/American Federation of Labor early unions that fought for workers' rights
Triangle Shirtwaist Factory Fire tragic fire that led to reform in factory work
Created by: Mrs.Rizzo