Study sets matching "social studies economics"

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Study sets matching "social studies economics"

Social studies economics
Law of demand
Demand curve
Law of supply
Supply curve
The law of demand is a microeconomic law that states, all oth…
a graph showing how the demand for a commodity or service var…
...
...
Law of demand
The law of demand is a microeconomic law that states, all oth…
Demand curve
a graph showing how the demand for a commodity or service var…
14 terms
Social Studies - Economics Vocabulary
scarcity
unlimited wants
natural resources
limited resources
not enough
There is no end to the number of things people want and need.
things in nature that people see as useful
There are only certain amounts of resources.
scarcity
not enough
unlimited wants
There is no end to the number of things people want and need.
7 terms
Social Studies: Studying Economics
Command Economy
Recession
Inflation
Exports
An economic system in which a central government decides what…
A period of slow economic growth or decline
A continued rise in prices or the supply of money
A good sent from one country to another in trade
Command Economy
An economic system in which a central government decides what…
Recession
A period of slow economic growth or decline
30 terms
Vocabulary for Social Studies: Economics
Economy
Producers
Consumers
Capitalism
A system in which people make, exchange, and use things that…
Owners and workers
People who buy and use products
An economic system in which private individuals own most buss…
Economy
A system in which people make, exchange, and use things that…
Producers
Owners and workers
Social Studies --Economics
Labor Union
Entrepreneurship and new companies
Trade Barrier
Productivity/standard of living
Protection of employee's rights
Has new ideas and competition to market place
Embargo
Increases goods=increase revenue=increase wages
Labor Union
Protection of employee's rights
Entrepreneurship and new companies
Has new ideas and competition to market place
Social studies economics
Market economy
Economic
Market economic system
Commend economic systems
What to produce how much and price.
Decisions made by individuals looking out for their best inte…
Countries with a mixed economy including Iceland, Sweden,ect.
People are told what jobs they can have.
Market economy
What to produce how much and price.
Economic
Decisions made by individuals looking out for their best inte…
10 terms
Social Studies Vocabulary - Economics
Economics
Scarcity
Resources
Land
The study and science of how goods and services are made, giv…
very little of something
The basic supplies, support, or help that can be used when ne…
An area of ground not covered by water
Economics
The study and science of how goods and services are made, giv…
Scarcity
very little of something
21 terms
social studies vocab (economics)
Producer
Consumer
Good
service
Someone who makes a good or performs a service
A person that uses goods and services; a buyer
An object you can buy to satisfy a need or want
An action provided that meets a want or need
Producer
Someone who makes a good or performs a service
Consumer
A person that uses goods and services; a buyer
10 terms
Social Studies 5: Economics
economy
free enterprise
profit
supply
a system for producing and distributing goods and services
a type of economy where people are allowed to start businesse…
money left over after all expenses have been paid
the amount of a good or service available
economy
a system for producing and distributing goods and services
free enterprise
a type of economy where people are allowed to start businesse…
17 terms
Social studies- Economics Terms
Need
Want
Law of scarcity
Opportunity cost
Something essential to live
A luxury
All things are limited
What you give up in order to get something else
Need
Something essential to live
Want
A luxury
12 terms
Social Studies Economic Terms
Capital
Capitalism
Demand
Corporation
Money and goods needed to develop or expand or purchase a bus…
An economic system based on private ownership of goods and th…
A desire to own or use a product or a service
A business organization in which several people control an op…
Capital
Money and goods needed to develop or expand or purchase a bus…
Capitalism
An economic system based on private ownership of goods and th…
29 terms
social studies economic
primary industry
secondary industry
tertiary industry
Quaternary industry
directly involve raw materials/ natural resources.
change resources created by primary industries into finished…
handle goods ready to be sold to consumers.
people have highly special skills. improving goods and servic…
primary industry
directly involve raw materials/ natural resources.
secondary industry
change resources created by primary industries into finished…
42 terms
Social Studies Economic Definitions
Boycott
Business Cycle
Capitalism
Communism
A refusal to have economic dealings with a person, a business…
A pattern of increases and decreases in economic activity.
An economic system in which there is private ownership of nat…
An economic system based on one-party rule, government owners…
Boycott
A refusal to have economic dealings with a person, a business…
Business Cycle
A pattern of increases and decreases in economic activity.
33 terms
Social Studies Vocab - Economics
Capital
Command Economy
Currency
Domestic
Man made resources used to produce other goods and services.
An economic system where economic decisions are planned out i…
Money in circulation.
Having to do with the internal affairs of a country.
Capital
Man made resources used to produce other goods and services.
Command Economy
An economic system where economic decisions are planned out i…
Social studies economics
Gross domestic product
Per capita GDP
Income
High-income countries
The market value of all final goods and services produced in…
The amount of GDP that is available for each person
The money earned from using a productive resource
Wealthiest countries in the world and have the highest standa…
Gross domestic product
The market value of all final goods and services produced in…
Per capita GDP
The amount of GDP that is available for each person
23 terms
Social Studies Economics Terms
Demand
Law of Demand
Supply
Law of Supply
Willingness and ability to buy at a given prices.
As prices go up demand goes down... As prices go down demand goe…
The willingness and ability to produce at different prices.
As prices go up, producer want to make more... As prices go down…
Demand
Willingness and ability to buy at a given prices.
Law of Demand
As prices go up demand goes down... As prices go down demand goe…
28 terms
Social Studies Economics
capital
tariffs
laissez-faire
reforms
money (part of an economic system)
taxes on products being brought into a country
a "hands off approach to business by government
changes to an existing system
capital
money (part of an economic system)
tariffs
taxes on products being brought into a country
Social Studies Economic Words
Allocating
Demand
Goods
Natural
To set apart for a particular purpose
To ask for with proper authority
Morally excellent
Existing in or formed by nature
Allocating
To set apart for a particular purpose
Demand
To ask for with proper authority
21 terms
SOCIAL STUDIES ECONOMICS FLASHCARDS
Traditional economy
Command Economy
Mixed Economy
Comparative Advantage
An economy in which production is based on customs and tradit…
An economic system in which the government makes all economic…
an economic system combining private and public enterprise.
The ability of a country to produce a good at a lower cost th…
Traditional economy
An economy in which production is based on customs and tradit…
Command Economy
An economic system in which the government makes all economic…
12 terms
Social Studies Economics #1
Economic
Needs
Wants
Producer
The study of how people seek to satisfy their wants by making…
Something essential for survival such as food , clothing, or…
Something that people desire but that is not necessary for su…
People and or firms which make and supply the goods and servi…
Economic
The study of how people seek to satisfy their wants by making…
Needs
Something essential for survival such as food , clothing, or…
18 terms
3rd Social Studies Economics
Goods
Services
Abundance
Scarcity
things made or grown by people to sell to others
jobs that on person or group does for another
a large supply of something to meet people's needs
not enough of something to meet people's needs
Goods
things made or grown by people to sell to others
Services
jobs that on person or group does for another
15 terms
Economic Terms (social studies)
Trade
Specialization
Interdependance
Production
The exchange of something of value
The concentration of production on fewer kinds of goods and s…
Reliance on others to satisfy wants
The act of combining natural resources, human resources, capi…
Trade
The exchange of something of value
Specialization
The concentration of production on fewer kinds of goods and s…
economics social studies
wants
goods
consumer
needs
things people would like to have to make their lives more com…
physical items such as food, clothing, cars, and houses
a person who satisfies a need or want by buying a good or ser…
food, clothing, shelter
wants
things people would like to have to make their lives more com…
goods
physical items such as food, clothing, cars, and houses
28 terms
Social Studies, Economics - Praxis 5089
Economic Functions of Governments
Maintaining Competition
Maintaining Legal and Social Framework
Providing Public Goods and Services
Maintaining Legal and Social Framework... Providing Public Goods…
Create and enforce antitrust laws; regulate natural monopolies.
Create laws and provide courts, provide information and servi…
Provide goods and services that markets are unable or unwilli…
Economic Functions of Governments
Maintaining Legal and Social Framework... Providing Public Goods…
Maintaining Competition
Create and enforce antitrust laws; regulate natural monopolies.
17 terms
Social Studies Economics
Economics
Goods
Services
Mercantilism
The study of the production, distribution, and consumption of…
A tangible product that satisfies a person's wants and/or nee…
An intangible product that satisfies a person's wants and pro…
An economic theory that trade generates wealth. Government sh…
Economics
The study of the production, distribution, and consumption of…
Goods
A tangible product that satisfies a person's wants and/or nee…
7 terms
Social Studies Economics
product
producer
consumer
factory
a good (something made or grown)
someone who makes a product or provides a service
a person who buys a product or service
a building in which products are prepared and packaged
product
a good (something made or grown)
producer
someone who makes a product or provides a service
11 terms
Social Studies Economics Vocabulary
Capitalism
Communism
Demand
Depression
Economic system based on private ownership and the investment…
Economic and political system based on one party government a…
Willingness and ability of consumers to spend money for goods…
Severe economic slump
Capitalism
Economic system based on private ownership and the investment…
Communism
Economic and political system based on one party government a…
Social Studies Economics Review
price incentives
rationing
genocide
15th amendment
prices that act as an incentive to buy products. low prices =…
A fixed portion, especially an amount of food allotted to per…
the deliberate killing of a large group of people, especially…
granted African American men the right to vote
price incentives
prices that act as an incentive to buy products. low prices =…
rationing
A fixed portion, especially an amount of food allotted to per…
10 terms
Economics for Social Studies
Macroeconomics
Microeconomics
5 Economic Questions
Resources
choices made by large groups
making the right economic decisions
WHAT to produce... HOW MUCH to produce... HOW... FOR WHOM... WHO gets to…
things used to make other goods
Macroeconomics
choices made by large groups
Microeconomics
making the right economic decisions
18 terms
Economics- Social Studies Unit
economics
buyer
seller
exchange
how money, goods and services are produced and used
a person who gives money or trades items for things he or she…
a person who sells goods or services to other people
when you trade or give up one item for another item
economics
how money, goods and services are produced and used
buyer
a person who gives money or trades items for things he or she…
Social Studies / Economics
Economic System
Economy
Entrepreneur
Goods
Establishes how a country produces and distributes good and s…
The production and distribution of goods and services within…
A person who organizes productive resources to take the risk…
Something that you can touch or hold
Economic System
Establishes how a country produces and distributes good and s…
Economy
The production and distribution of goods and services within…
Social Studies-Economic Regions
Banks, Investment Firms, and Insurance…
Rich Farmland and huge pockets of Coal
Cotton, Tobacco, and Citrus Fruits
Urban, Industrial, Fastest
(Northeast) The economy in this region is heavily dependent on:
(Northeast) Some natural resources of the Northeast states in…
(South) Along the coastal plains, rich soils help farmers gro…
(South) In recent years, the South has become more___________…
Banks, Investment Firms, and Insurance…
(Northeast) The economy in this region is heavily dependent on:
Rich Farmland and huge pockets of Coal
(Northeast) Some natural resources of the Northeast states in…
13 terms
Mollie - Economics - Social Studies
volunteer
needs
wants
opportunity cost
a person who offers to work, usually without pay.
certain things that people must have to live.
are things people would like mohave but do not need in order…
What people give up to get or do something else.
volunteer
a person who offers to work, usually without pay.
needs
certain things that people must have to live.
Social Studies- Economics
capitalistic economy
market economy
laissez faire
communism
a market economy, where factors of production are controlled…
people will have a job that pays a salary, or work in a busin…
the philosophy that government should avoid getting involved…
a political theory derived from Karl Marx, advocating class w…
capitalistic economy
a market economy, where factors of production are controlled…
market economy
people will have a job that pays a salary, or work in a busin…
14 terms
Social Studies Economics Terms
Economics
Services
Barter
Currency
the science that determines production, distribution, and con…
an action provided by another person
to trade goods for goods
Object with agreed value that makes trade easier
Economics
the science that determines production, distribution, and con…
Services
an action provided by another person
Social Studies/ Economics
benefit
borrowing
capital resources
consumer
something that satisfies your wants
promising to repay a given amount of money, often with added…
special goods such as tools, equipment, machines, and buildin…
a person who buys goods or services to satisfy wants
benefit
something that satisfies your wants
borrowing
promising to repay a given amount of money, often with added…
Social Studies- Economics
data
data set
present consequences
future consequences
is factual information that has been collected together
a collection of data related to a specific topic
consequences can be felt or seen immediately
consequences may not affect us until years or decades into th…
data
is factual information that has been collected together
data set
a collection of data related to a specific topic
10 terms
Social Studies Economics
Law of supply
Wants and needs
Concept of Opportunity Cost
3 renewable resources
As the price of a good increases quantity supplied is also in…
Needs- our basic needs to survive, food, clothing and shelter…
Opportunity cost is the next best alternative. When a decisio…
Wind, waves, wood.
Law of supply
As the price of a good increases quantity supplied is also in…
Wants and needs
Needs- our basic needs to survive, food, clothing and shelter…
14 terms
Economic Terms - Social Studies
Economics
Entrepreneur
Capital
Credit
The study of how people use their limited resources.
Someone who risks their personal finance to start a company/b…
Wealth & the form of other assets used for starting a busines…
When you borrow money from a bank. Ex: Visa & Master Card
Economics
The study of how people use their limited resources.
Entrepreneur
Someone who risks their personal finance to start a company/b…
20 terms
Social Studies: Economics
economy
service
agriculture
goods or products
What is it when countries use or produce natural resources, g…
What do you call a job people do to help others, rather than…
What is the practice of growing crops and raising animals?
What are the things that are manufactured, such as cars, comp…
economy
What is it when countries use or produce natural resources, g…
service
What do you call a job people do to help others, rather than…
30 terms
Social Studies Economics Vocabulary
Income
Currency
Budget
Scarcity
earnings from work or investments; any money you receive
money; coins and paper bills used as money
a plan for making and spending money; a plan of how money wil…
...
Income
earnings from work or investments; any money you receive
Currency
money; coins and paper bills used as money
30 terms
Social Studies, Economics - Praxis 5089
Economic Functions of Governments
Maintaining Competition
Maintaining Legal and Social Framework
Providing Public Goods and Services
Maintaining Legal and Social Framework... Providing Public Goods…
Create and enforce antitrust laws; regulate natural monopolies.
Create laws and provide courts, provide information and servi…
Provide goods and services that markets are unable or unwilli…
Economic Functions of Governments
Maintaining Legal and Social Framework... Providing Public Goods…
Maintaining Competition
Create and enforce antitrust laws; regulate natural monopolies.
14 terms
Social Studies: Economics Vocab
Economy
Goods
Services
Trade
a system for making, managing, and delivering goods and servi…
things made or grown by people to sell to others.
jobs that one person or group does for another
the buying or selling of goods and services
Economy
a system for making, managing, and delivering goods and servi…
Goods
things made or grown by people to sell to others.
18 terms
GED Social Studies Vocabulary--Economics
entrepreneur
laissez-faire capitalism
free enterprise
capacity
someone who starts his/her own business
an economic system in which the means of production and distr…
Economic system in which individuals and businesses are allow…
A measure of the maximum output an organization, department,…
entrepreneur
someone who starts his/her own business
laissez-faire capitalism
an economic system in which the means of production and distr…
21 terms
Social Studies: Economics
Economics
Market Equilibrium Price
Elasticity
Market Efficiency
The study of how a society allocates its scarce resources to…
Where the decisions of buyers coincide with the decisions of…
A measure of the responsiveness of quantity changes in price.
Obtaining the most output consistent with the preferences of…
Economics
The study of how a society allocates its scarce resources to…
Market Equilibrium Price
Where the decisions of buyers coincide with the decisions of…
Social Studies: Economics
economics
economic system
consumption
production
the study of how people use resources to produce, distribute…
an organized way a society uses to produce, distribute, and c…
the using up of a resource
the process in which plants continue to reproduce
economics
the study of how people use resources to produce, distribute…
economic system
an organized way a society uses to produce, distribute, and c…
Social Studies: Economic Vocabulary
market economy
command economy
traditional economy
mixed economy
economy driven by individuals and private ownership with limi…
economy dictated by government
economy based on the traditions of the local indigenous popul…
An economic system combining market and command economic char…
market economy
economy driven by individuals and private ownership with limi…
command economy
economy dictated by government
17 terms
Social studies economics 1
Economics
Good
Service
Resource
The scince that deals with the production, distribution, and…
Any item that can be bought or sold
Any action that people or person can do for another in exchan…
Anything thatcan be used to make a want or need
Economics
The scince that deals with the production, distribution, and…
Good
Any item that can be bought or sold
Social Studies Economics 3
Supply
Demand
Law of Supply
Law of Demand
The availability of an item.
The usefulness of an item.
As the he price increases, the supply increases. This means m…
As the price decreases, the demand increases. This means more…
Supply
The availability of an item.
Demand
The usefulness of an item.
Economics (praxis social studies)
Microeconomics
Macroeconomics
National debt
Investment
a branch of economics that studies the behavior of individual…
a branch of economics dealing with the performance, structure…
the net accumulation of federal budget deficits
the purchase of a security such as a stock or bond
Microeconomics
a branch of economics that studies the behavior of individual…
Macroeconomics
a branch of economics dealing with the performance, structure…
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