Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
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.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
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 Test!

QuestionAnswer
Economics the study of how people or countries manage their limited resources by providing, exchanging, and using goods and services.
Traditional Economy economic system in which social rules and culture decide what will be produced, how it will be produced, and how it will be distributed.
Command Economy economic system in which the government decides what will be produced, how it will be produced, and how it will be distributed.
Market Economy economic system in which the people decide what will be produced, how it will be produced, and how it will be determined.
Mixed Economy economic system in which the government and people share the role in deciding what will be produced, how it will be produced, and how it will be distributed.
Specialization when a country focuses resources on creating fewer specific products and services than they consume
Trade Barriers governmental policies that restrict, the entry of products into a country
Quota limiting the amount of products that can come into a country
Tariff a tax on imports
Embargo cutting off all trade to a certain country because of political reasons
Currency money
Exchange Rate the rate at which one unit of currency can be traded for another unit of currency of another country
Human Capital labor that is done by people in order to produce products
Capital Resource the machines, tools, factories, land, and technology that are needed to make other products
Natural Resource raw materials used to make products or "gifts of nature"
GDP the amount of products and services produced in one country in one year
trade voluntary exchange of products and services
import a product brought into a country through trade or sell
export a product leaving a country through trade or sell
Entrepreneur brining together natural, capital, and human resources and take risks to develop buisinesses
Created by: averyrcole
Popular Social Studies sets

 

 



Voices

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:
Retries:
restart all cards