Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
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
Normal Size Small Size show me how
Economy basic
| Term | Definition |
|---|---|
| trade barriers | restrict or limit trade - tariffs or emgargos |
| physical trade barriers | physical features that would prevent trade |
| economic trade barriers | restrict trade between countries |
| human capital | invest in education, healthcare, & training of people |
| capital goods | a good such as machinery used to produce other things |
| producer | person or company that makes items for sale or puchase |
| consumer | a person who buys something |
| products | items available for purchase |
| services | work done for other people for a fee |
| gross domestic product | total value of all final goods and services produced in a country in one year |
| entrepreneur | someone who starts their own business or invests in an old one |
| diversify | to add variety to something |
| credit | loan of money to be paid back over time |
| investing | using money to make money |
| traditional economy | based on bartering/trading goods |
| market economy | individuals/businesses own and control production |
| command economy | government makes all the economic decisions for the country |
| mixed economy | a blend of systems: traditional, market, or command |
Created by:
cindyritter
Popular Social Studies sets