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

unit 1 vocab macro

ap macroeconomics

What is opportunity cost? the amount of other products that must be foregone or sacrificed to produce a unit of a product
what is macroeconomics? the part of economics concerned with the economy as a whole; with such major aggregates as the household, business, and government sectors; and with measures of the total economy BIG picture
what is aggregate? the combining of individual units or data into one unit or number
what is a ppf? a curve showing the different combinations of two goods or services that can be produced in a full-employment, full-production economy where the available supplies of resources and technology are fixed
what the circular flow model? the flow of resources from households to firms and of products from the firms to households. these flows are accompanied by reverse flows of money from firms to households and from households to firms
what is a market? any institution or mechanism that brings together buyers(demanders) and sellers(suppliers) of a particular good and service
what is demand? a schedule showing the amounts of a good or service that buyers (or a buyer) wish to purchase at various prices during some time period
what is a demand curve? a curve illustrating demand
what are the determinants of demand? these determinants will cause a shift in the demand curve 1. tastes and preference 2. number of consumers 3. price of related goods 4. income 5. future expectations
what is supply? a schedule showing the amounts of a good or service that sellers (or a seller) will offer at various prices during some period
what is a supply curve? a curve illustrating supply
what are the determinants of supply? these determinants will cause a shift on the supply curve 1. price/availability of input(resources) 2. number of sellers 3. technology 4. government action: taxes and subsidies 5. opportunity cost of a alternative product 6. expectations of future
what is equilibrium price? the price in the competitive market at which the quantity demanded and the quantity supplied are equal, there is neither a shortages nor a surplus, and there is no tendency for price to rise or fall
Created by: edgargfhs
Popular History 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