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
Economics Vocab Feb
Social Studies
| Term | Definition |
|---|---|
| Supply and demand | Supply is the amount of goods available, and demand is how badly people want a good or service. |
| Surplus | an amount greater than needed |
| Shortage | a deficiency or lack in the amount needed |
| Scarcity | deficiency or shortness of supplies |
| Consumer | a person who purchases goods and services for personal use |
| Taxation | a charge paid by a citizen for the support of its government and government services |
| Trade | exchange of goods/services in a market (domestic, international, etc.) |
| Currency | a unit of money; money |
| Entrepreneur | a person who starts a business and is willing to risk loss in order to make money |
| Economics | of, relating to, or based on the production, distribution, and consumption of goods and services |
| Export | goods/services produced within a country, but transported to other countries and sold outside of the country where it was produced |
| Import | goods/services brought into and sold in a country that are produced in other countries |
Created by:
kitaztd
Popular Social Studies sets