How can we help?

You can also find more resources in our Help Center.

31 terms

8th grade Louisiana History Chapter 3 Vocab.

8th grade Mr. Williams' Louisiana History chapt. 3 voc.
STUDY
PLAY
Economics
the production, distribution, and consumption of goods and services
Market System
an economic system in which citizens are free to make economic decisions
Command System
an economic system in which a small group of goverment officials make economic decisions for all citizens
Traditional System
an economic decisions in which customs determine economic decisions determine economic decisions
Barter System
in which goods or services are traded without the exchange of money
Regulatory Agency
an agency that monitors economic activity
Services
the preformance of a specific task for pay
Dividends
a share of the profits
Supply
a quantity of a product
Demand
the quantity of goods that buyers will take at a particular price
Subsize
to assist or support with money
Scarcity
insuffiecient supply, shortage
Surplus
something that remains above what is used or needed
Wage
money that is paid or recieved for work or services, as by the hour, day, or week
Salary
a fixed amount of pay
Specialization
the act of specialization or the process of becoming specialized
Allocate
ration or set aside for a special purpose
Unemployment Rate
the precentage of the work force who desire work but are unemployed at a given time
Interest
a charge for credit or a loan, usually a percentage of the loan ammount
Line of Credit
the amount of credit a consumer is able to obtain
Simple Interest
a fee (usually a precentage) paid on the original loan amount, not on any accrued
Compound Interest
interest computed on unpaid interest as well as the principal
Investing
to put (money) to use by purchases or expenditure, in somthing offering potential profitable returns, as interest, income, or appreciation in value
Deflation
a decrease in consumer prices
Consumer Price Index
a means of measuring changes in the cost of basic goods and services
Stock
a portion of a public corporation available for for sale; a paper document that certifies an investor has partial ownership of a public corporation
Shares
a percentage of a public coorporation available for sale
Global Market
the world-wide economic market
User Fees
admission to state parks and museums or tolls on public roads or bridges
Aquaculture
the cultivation of marine or freshwater fish of shellfish
Tariff
a tax on foreign or imported goods