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 Grade Economics

The basic problem in economics scarcity
scarcity unlimited wants/limited resources
Three basic questions of economics 1)What will be produced, 2)How will it be produced, 3)Who will consume it
Factors of production Land, Labor, Capital
Land all naturally occurring resources
Labor what humans do and get paid for
Capital human made resources
Four types of Economic Systems Traditional, Market, Command, Mixed
Traditional Economy doing things the way it has always been done
Mixed Economy a combination of market and command
Command Economy government answers the three questions
Economics The study of how people seek to satisfy their needs and wants by making choices.
Embargo When one country refuses to trade with another country
Quota A limit placed on the amount of goods that may be brought imported a country to encourage production within that country
Tariff A tax placed on an imported good
Export Goods going out of a country
Import Goods coming into a country
Created by: carrie.pate
Popular Economics 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