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

Tong Econ Kawasaki

Tong AP Microeconomics Summer Kawasaki

TermsDefinitions
Scarcity An economic problem in which there is an insufficiency of an amount or supply of a specific item; less goods are available than the demand for them.
Opportunity Cost A benefit, profit, or value of an object that must be given up to acquire something else.
Capital The nation's current production of valued goods and services including its capacity to produce them.
Supply The quantity of a product available for purchase at a specified price; determined by price, cost of inputs, as well as the pricing of other goods.
Demand The desire for a certain good or service supported by the capacity to purchase it at a given price.
Market An actual or nominal place where buyers and sellers are able to interact to trade or purchase objects and services.
Competition Rivalry in which every seller attempts to get what other sellers are seeking at the same time; commonly sales and profits.
Needs Used to reinforce necessity, urgency, or inevitability.
Wants The state of having too little of something needed or desired.
Goods A commodity or tangible item that satisfies a human want or need in order to make an effort to acquire it.
Services Activities done by individuals for a cost.
Consumers An individual who purchases goods or services for direct use or personal use rather than for resale or use in production and manufacturing.
Budget An estimate of costs, revenues, and resources by an agent or business for a specified period which reflects a reading of future financial conditions and goals.
Profit The surplus remaining after total costs are deducted from the total revenue and the basis on which tax is computed and dividend is paid.
Cost An amount that is required to be paid or given up in order to receive or purchase goods or services.
Created by: Terizzle
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