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

7th-Unit 2.5 SE Asia

SS7E7, SS7E8, and SS7E9 - Economics

market economy a country's economic decisions are based on what its people want to buy and sell
command economy the government controls what is produced, how it is produced, and who gets the products
traditional economy people produce what they need to survive by farming or hunting and gathering
tariff a tax on imported goods
quota a limit on the amount of a good that can be imported into a country
embargo a government order that stops trade with another country
capital goods factories, machines, technologies, buildings, and property needed for a business to operate
human capital workers of a business or country including their education, training, skills, and health
entrepreneurship the act of a person risking money, time, ideas, and energy to start and run a business
specialization when a country makes one or just a few goods or services, the cost of the items produced is lower
mixed economy term used to describe the blending of a market and command economy.
economic continuum a 0-100 scale which ranks world economies from mostly command (1) to mostly market (100).
bartering system of exchange where one good or service is given in return for another; no monetary exchange.
free enterprise the creation, maintenance, and expansion of businesses outside the control or influence of the government.
rations fixed amount of a product or service allowed during times of shortages; Example in Southern and Eastern Asia: food in North Korea.
literacy rate percentage of a country's citizens who have the ability to read and write.
standard of living the level of wealth and material comfort available to the people of a country.
Gross Domestic Product (GDP) the total value of all the goods and services produced in a country in one year
Created by: manleyshms
Popular Social Studies 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