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.
Didn't know it?
click below
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (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 ch. 5

The Productive Market Economy

This is the means through which sellers and buyers exchange goods Market
This is separate people functioning in their roles as producers and consumers Individuals
This is signs that are used by consumers and producers to determine how much of a good to buy or sell at a given price and time Market signals
These are goods that have a life expectancy of less than 3 years. Nondurable goods
These are goods such as cars or refrigerators which are expected to last at least 3 years Durable goods
This gives people only limited choices regarding what to produce and consume. This is seen in societies with a very simple economy. It doesn't change much. Doesn't need anyone to make important economic decisions Traditional economic system
This means possessing absolute, compelling power Totalitarian
This is an illegal underground system for the exchange of goods, developed to avoid governmental regulations Black Market
This is the part of an economy that is controlled by private individuals, businesses and organizations Private sector
This is the part of an economy that is controlled by national, state and local governments Public sector
This is the urge to work at bettering one's economic situation. And the incentive to act in order to acquire more money ad goods Profit motive
This is any sort of gain. Anything one receives in return for his labor or cleverness Profit
This is the excess of the total revenue paid by buyers for goods over the seller's total expense of producing those goods. Profit
This is the diminishing of the value of goods that is caused by wear and time Depreciation
This is the value of the best alternative that is foregone when a different alternative is taken. (Cost of giving up one opportunity in order to pursue another) Opportunity cost
This is the total value of a business minus and liabilities Equity
Created by: Leslie Spark



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