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

Chapter 2 Lesson 2

Exploring Economics

QuestionAnswer
The act of running a business and taking risks is called ______. entrepreneurship
A producer wants to ____. supply goods while charging the highest price
When a good is scarce, it means that ______. it is hard to find and likely to cost more
What you give up when you choose one thing over another is called ______. opportunity cost
In which of the following economic systems do individuals make all the choices about what to make, buy, and sell? market economy
In which type of economic system do people choose what goods to make based on custom? traditional economy
When inflation happens, ______. the prices of goods go up
During a period of recession, ______. the economy slows or shrinks
Which type of good would you most want to export? something you can make cheaply and sell elsewhere at a high price
Which of the following is a sign of globalization? an increase in free trade between countries
Why is technology an important resource? Technology can make it easier and cheaper to create goods.
In a free market, how do the forces of supply and demand balance each other over time? The buyer and seller will agree on a price and amount that satisfies both.
Cuba has which type of economy? command economy
The United States has what type of economy? Market Economy
What happens when people barter? Goods and services are traded for other goods and services.
What is the goal of free trade? a world market where people are allowed to choose what to buy and sell
scarcity- the lack of a resource
supply - the amount of a good or service that a producer wants to sell
demand - the amount of something a consumer wants to buy
capital - money and goods used to help people make or do things
entrepreneurship - running a business and taking on the risks of that business
Created by: Alfonso H.
Popular Earth Science 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