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
edit
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

Economic Systems

Economic Systems of Europe

TermDefinition
Three Questions in Economics What to Produce How to Produce it For Whom to Produce
Economics The social science of the production, the distribution, and consumption of goods
Bartering Exchanging one good or service for another good or service
Capitalism citizens control production and profits (free enterprise or market)
Supply how much is available
Demand how much people want
Command Economy controlled by the government
Traditional Economy based on traditions and culture
Market Economy citizens control production and profits
# of Countries that have a pure market economy 0
Mixed Economy Partly controlled by government partly controlled by citizens example: Germany
GDP value of all the goods and services produced in a country in a year
Standard of Living how well people live based on public services, education, healthcare, and jobs
Literary Rate percentage of people that can read and write
Specialization making a living by doing what a person does best
Currency Money
Exchange Rate How much one country's currency is worth in another country
Human Capital A supply of people that can produce goods or services
Capital Goods Items people need to perform their jobs
Natural Resources Items that from the world around us that we use for our own reasons
Entrepreneur People with new ideas that take a risk to start a business or make a new product
Tariff A tax on imported goods
Quota A limit on the amount of goods that can be imported
Embargo A ban on an imported good
Created by: Feranmi
Popular Social Studies 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