Save
Upgrade to remove ads
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

Unit 6 Economics

TermDefinition
scarcity shortage of supply; not enough to satisfy a want or a need
goods items that are made and satisfy human wants/needs
services The action of helping or doing something for someone
specialization the act of concentrating on a limited number of goods or activities
economy system that a community uses to produce and distribute goods and services
resource a supply of something that can be used as needed; there are three different kinds of resources = natural, human, and capital
demand the desire for a certain good or service
supply the amount of a good or service that is available for use
trade the act or process of buying, selling, or exchanging goods and services
consumer a person who purchases goods and services for personal use
producer a person, company, or country that makes, grows, or supplies goods for sale
Silk Road a series of trade routes that crossed Asia and linked China to Western Europe
Punic Wars a series of three wars between Rome and Carthage that led to the undisputed dominance of Rome in the western Mediterranean region
Gold-Salt Trade an exchange of salt for gold between Mediterranean economies and West African countries during the Middle Ages
natural resources useful material found in the environment; something from nature that people can use
human resources people who work and sell products or provide a service
capital resources money, products, and supplies used in the production of goods and services
command economy an economic system where government leaders plan and control the decisions of what and how things are made
traditional economy an economic system where decisions are based off of the beliefs, customs, and traditions of the past
market economy an economic system where all economic decisions are made by individuals or private businesses; there is a large amount of individual freedom
mixed economy an economic system that is a mixture of command and market economies
surplus extra
barter trading a good for a good, a good for a service, or a service for a service; no money is involved
Created by: 6rabbss
 

 



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