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

Economics Vocab

Economics Vocabulary

TermDefinition
GDP Gross Domestic Product; the total value of goods and services produced in a country in a year
4 Factors of Economics Growth Entrepreneurship, human capital, capital goods, natural resources
Entrepreneurship A person willing to risk their time and money in a new product or improved product
Human Capital The value of a person's skills and education
Capital Goods Goods used to make other goods
Natural Resources Gifts from the Earth
Specialization When countries focus on producing what they can produce easily and trade for what they need
Interdependence When countries rely on each other for goods and services; usually a result of specialization
Market Economy Supply and demand determine what is produced, how much is produced, and for whom it is produced
Command Economy The government determines what is produced, how much is produced, and for whom it is produced.
Traditional Economy Traditions and customs determine what is produced, how much is produced, and for whom it is produced.
Mixed Economy A combination of government and supply and demand control economic decisions
Scarcity When there is not enough of a good
Surplus When there is more than needed of a good
Export Goods that are sent out of the country to another
Import Goods that are brought into a country from another
Quota A limit on imports
Tariff A tax on imports
Embargo A refusal to trade with a country
The higher the literacy rate.... the higher the standard of living
Created by: MsBentley
Popular World History 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