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Economics Vocab Flashcards | StudBud
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Economics Vocab
Economics Vocab
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Vocabulary of Economics.
Flashcards
36 cards
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Questions
36
Answers
1
Tax
A tax you pay depending on how much money you make.
Things needed for a country or city to run.
Money paid to the government to help them pay for things.
A tax on imports/exports.
2
Manufacture
Farming plants.
Raising livestock.
To make or build something.
Farming goods (both plants and animals).
3
Capitalism is a system in which...
Trade is controlled by people, not by federal businesses.
Trade is controlled by fedrally-funded businesses.
Trade cannot be regulated by federal or state rules.
Trade is controlled by state-sponsored businesses.
4
Tariff
A tax you pay depending on how much money you make.
A tax on imports/exports.
Things needed for a country or city to run.
Money paid to the government to help them pay for things.
5
Inflation
When the prices of gods go down.
When the prices of goods go up.
When the average pay goes up.
When the average paycheck goes down.
6
Human capital is...
Equipment or resources owned or used in a business.
Human workers who help a business run.
Human workers that work with money.
The money you make in your business.
7
Depreciation
When the price of goods go down.
When something you own is worth less money as time goes by.
When something you own is worth more money as time goes by.
When the price of goods goes up.
8
Supply
How much of a good or service is available.
How much people will pay for a good or service
How much a good or service costs.
How much a good or service is wanted.
9
Infrastructure
Money paid to the government to help them pay for things.
A tax you pay depending on how much money you make.
Things needed for a country or city to run.
A tax on imports/exports.
10
Monopoly
When one person owns everything.
Communism.
When a few companies own all the goods/services in a market.
When one company own all the goods and services in a market.
11
Shares are...
Parts of a company that are used towards paying taxes.
Parts of a company sold to individuals.
Parts of a company divided among CEOs.
Taxes paid to help the poor.
12
Stock Market
The cycle of economic activity going up and down.
The buying and selling of goods.
The buying and selling of shares.
The buying and selling of capital.
13
Goods are...
Food that can be bought or sold.
Merchandise that can be bought or sold.
Clothing that can be bought or sold.
Rewards.
14
Bank
A place to store goods.
A place where people can store or borrow money.
A place to store your money.
A place to borrow money.
15
Agriculture
Farming goods (both plants and animals).
Farming plants.
To make or build something.
Raising livestock.
16
Profit
When you make more money than you spend.
When you spend lots of money.
When you make lots of money.
When you spend more money than you make.
17
Deflation
When the price of goods go down because less $ is available.
When the price of goods go down and more money is available.
When the price of goods go up because more $ is available.
When the price of goods go down.
18
A deficit is when...
More of something is available than what is wanted/needed.
Less of something is available than what is wanted/needed.
19
Interest
Money paid for a loan in addition to the amount borrowed.
To get a loan for a large purchase (like a car or house).
When money is borrowed and will be paid back with interest.
Money available to a person or company.
20
A recession is a period of...
Low economic activity. Unemployment rates are up.
High economic activity. Unemployment rates are up.
Low economic activity. Unemployment rates are down.
Very low economic activity. Worse than a recession.
21
Barter
To pay for a good or service with money.
To pay for a good or service with volunteer work.
To pay for a good or service with a skill or another good.
To pay for a good or service with financing.
22
Demand
How much a good or service is wanted.
How much of a good or service is available.
How much a good or service costs.
How much people will pay for a good or service
23
Appreciation
When something you own is worth more money as time goes by.
When something you own is worth less money as time goes by.
When the price of goods go down.
When the price of goods goes up.
24
Monetary is...
Anything to do with the Stock Market.
Anything to do capitalism.
Anything to do with the recession.
Anything to do with money.
25
A commodity is...
The amount of goods a business has in stock.
Useful things that can be used in trading.
Useful things that have worth, like goods, skills, or time.
The amount of goods a business can order in one day.
26
In economics, "capital" means...
Money, property, or goods paid to the government.
Where the government makes decisions.
Where the government decides how taxes should be spent.
Money, property,or goods that are owned or used in business.
27
Boom and Bust
Cycle of economic activity going up and down.
Cycle of foreign trade going up and down.
Cycle of the stock markets going up and down.
Cycle of stock market prices going up and down.
28
A depression is a period of...
Very low economic activity. Unemployment rates are low.
Very high economic activity. Unemployment rates are high.
Very high economic activity. Unemployment rates are low.
Very low economic activity. Unemployment rates are high.
29
Income Tax
Money paid to the government to help them pay for things.
Things needed for a country or city to run.
A tax on imports/exports.
A tax you pay depending on how much money you make.
30
Surplus is when...
More of something is available than what is wanted/needed.
Less of something is available than what is wanted/needed.
31
Import
Goods that are bought from inside the same country.
Goods that are bought from outside countries.
Goods that are shipped around the country.
Goods that are sold to outside countries.
32
Finance
To get a loan for a large purchase (like a car or house).
Money available to a person or company.
Money paid for a loan in addition to the amount borrowed.
When money is borrowed and will be paid back with interest.
33
Loan
Money paid for a loan in addition to the amount borrowed.
Money available to a person or company.
To get a loan for a large purchase (like a car or house).
When money is borrowed and will be paid back with interest.
34
Export
Goods that are shipped around the country.
Goods that are bought from inside the same country.
Goods that are bought from outside countries.
Goods that are sold to outside countries.
35
Physical capital is...
Equipment or resources owned or used in a business.
Human workers who help a business run.
Human workers that work with money.
The money you make in your business.
36
Debt
When you spend lots of money.
When you make more money than you spend.
When you spend more money than you make.
When you make lots of money.
