Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

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.
Didn't know it?
click below
Knew it?
click below
Don't Know
Remaining cards (0)
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 6th grade

Three basic economic questions (1) What goods and services will be produced? (2) How will goods and services be produced? (3) Who will consume the good and services?
traditional economy the customs and traditions of the past are used to decide what and how goods will be produced, distributed, and consumed; no currency, bartering used instead; oldest system
market economy also called free enterprise system or capitalism; economic decisions are guided by changes in prices that occur between buyers and sellers in the market place; US, UK
command economy government planning groups make the basic economic decisions; Russia
mixed economy an economy having characteristics of both market and command systems; all countries have mixed economies today. We use an economic continuum to show how countries compare in their economic freedom.
trade barriers ways that countries protect their economies by limiting trade
tariff a tax on imported goods
quota a limit placed on the number of imports that can come into a country
embargo a government order stopping trade with another country (the strongest form of trade barrier)
free trade zone the European Union; a group of countries between which no tariffs are collected; in a free trade zone, goods can be purchased for a lower price
European Union Europe’s free trade zone
euro the common currency of the European Union
currency money used in a country to make the exchange of goods easier; the US dollar
Russian ruble Russia’s currency
British pound UK’s currency
Gross Domestic Product the amount of good and services produced in a country in one year
human capital the education, training, skills, and health of workers
capital goods also called physical capital; factories, machines, technologies, buildings, and properety needed by businesses to operate
literacy rate number of people in a country who can read and write their own language
specialization the division of labor; work is divided into parts for workers, factories, or countries to become experts are producing certain goods
entrepreneur one who risks his or her own money, time, ideas, and energy to start and run a business
Created by: Deigh
Popular History sets




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:
restart all cards