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 5.1

Vocab

TermDefinition
economics study of how people meet their wants and needs
supply amount of goods or service that is available for use
scarcity having a limited quantity of resources to meet unlimited wants
producer people or businesses that make and sell products
opportunity cost cost of what you give up when you make a choice
consumer people or businesses that buy (or consume) products
demand desire for a certain good or service
incentive factor that encourages people to act in a certain way (ex. money)
marginal cost cost of making one more unit of a product (sets the minimum price for a product)
factors of production the resources people use to make goods and services
three main factors of production land, labor and capital
market clearing price (market price) price in which demand equals supply
What happens to demand when the price of a product goes up? demand will decrease (people will want less of it)
What happens to supply when the price of a product goes up? supply will increase (companies will make more of it)
Created by: henrichfamily
Popular Geography 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