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

C202 Key Terms

Economics and Economic Activities

QuestionAnswer
Capital goods manufactured or constructed tems that are used to produce goods and services.
Consumer Anyone who uses goods and services.
Consumption The process or activity of using goods and services.
Decision-making Choosing among alternatives.
Distribution The process or activity by which income is divided among resource owners and producers.
Economic activities Consumption,production,exchange,and distribution.
Economic wants Desire for items that can only be obtained by spending money.
Economics The study of how to meet unlimited,competing wants with limited resources.
Economizing The process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained ;deciding how scarce resources will be used.
Exchange The process of trading one good/service for another.
Free goods Items that can be obtained without money.
Goods Tangible objects that can be manufactured or produced for resale.
Human resources People who work to produce goods and services.
Income The money recieved by resource owners and by producers for supplying goods and services to customers.
Natural resources Items that are found in nature and used to produce goods and services.
Noneconomic want A desire for something that can be satisfied without spending money.
Opportunity cost The benefit that is lost when you decide to use scarce resources for one purpose rather then another.
Price The amount of money paid for a good,service,or resource.
Producers The people who make or provide goods and services.
Production The economic process or activity of producing goods and services.
Resource Any item that is used to accomplish another activity, such as producing/providing goods and services.
Resource owners Those who provide human resources,natural resources,and capital goods in order for production to take place.
Scarcity A condition resulting from the gap between limited resources and unlimited wants for goods and services.
Services Intangible activities that are preformed by other people for money:productive acts that satisfy economic wants.
Trade-off Giving up all or part of one thing to get something else.
Want A desire for something that may or may not be required.
Created by: user-1789366
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