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

QuestionAnswer
What are the 3 economic system questions How to produce?How to produce it?For whom to produce it?
What is Traditional Economy? Economy based on beliefs and values; usually involves bartering rather than the exchange of currency.
What is Capitalism Economy? Economic System in which private owners control the production of goods and profit.
What is Market Economy? An economic system based on free trade and competition.
What is Socialist Economy? Economic system in which most businesses are owned and run by the gov't.
What is Communist Economy? Economic,social and political system based on the teachings of Karl Marx.
What is the Command Economy? An economic system which the central gov't makes all the economic decisions.
What is a Mixed Economy? An economic system that has a combination of gov't and privately owned businesses.
What are Trade Barriers? Obstacles to trade between countries.
What is a Quota? Number limit on how many items of a particular product can be imported from a particular country.
What is a Tariff? A tax placed on imported goods.
What is a Embargo? Bans on trading with another country for political reasons.
What is Economics? The social science that deals with the production, distribution and construction of goods and services.
What is Bartering? Exchanging one good or service for another.
What is Supply? How much people have and How much is available.
What is Demand? What or how much people want?
What is GPD? The value of all of the goods and services produced in a country per a year.
What is the Standard of Living? How well citizens live based on goods and services, education, healthcare, and jobs.
What is Specialization? Making a living doing what a person does best.
What is Opportunity Cost? The value of what is given up when a choice is made.
What is Currency? MONEY
What is Exchange Rate? How much one currency is worth in terms of another.
Created by: OwlChicken
Popular Social Studies 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