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

CH 1 Intro Biz

Vocabulary

QuestionAnswer
A nations plan for answering the 3 economic questions. Economic System
Economy in which resources are owned and controlled by the government. Command Economy
Economy in which resources are owned and controlled by the people of the country. Market Economy
Economy in which goods and services are produced the way it has always been done. Traditional Economy
Economy that combines elements of market and command economies Mixed Economy
The private ownership of resources by individuals, rather than by the government. Capitalism
Things that are required in order to live. Needs
Things that add comfort and pleasure to your life. Wants
Things you can see and touch, products you can purchase to meet your wants and needs. Goods
Activities that are consumed at the same time they are produced, intangible. Services
Means through which goods and services are produced. Economic Resources
Not having enough resources to satisfy every need. Scarcity
Process of choosing which wants, among several options, will be satisfied. Economic Decision-making
The act of giving up something to have something else. Trade-off
Value of the next best alternative you did not choose. Opportunity Cost
Person who buys and uses goods and services. Consumer
Individuals and organizations that determine what products will be available for sale. Producers
Quantity of a good or service consumers are willing and able to buy. Demand
Quantity of a good or service that businesses are willing and able to provide. Supply
The point where supply and demand are equal. Market Price
Created by: joannw15
Popular Business 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