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5th Grade - OLD, DO NOT USE > Social Studies > Flashcards

Social Studies Flashcards

1
Q

the law of supply and demand-

definition:

A

the economics

principle stating that prices fall when goods are plentiful and rise when they are scarce.

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2
Q

capitalism

part of speech:

sum:

definition:

A

noun

capital+ism (wealth)

a person’s wealth,free market with private ownership

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3
Q

communism

part of speech:

definition:

A

noun,com+mune(cross of the e)+ism
a system characterized by a common ownership

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4
Q

socialism

part of speech:

sum:

definition:

A

noun

social+ism

some buisnesses are owned by the people but gov’t own the majority resources

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5
Q

credit

part of speech:

sum:

definition:

A

noun

crede(cross of the e)+it
to believe or trust

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6
Q

law of supply and demand-the economics principle stating that prices________ when goods are___________ and _________ when goods are _________

A

economics,fall,plentiful,rise.and scarce

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7
Q

consumer- a person who _______ or ________ a product

A

buys or uses

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8
Q

demand-what and how much a consumer__________ ___ ______

A

wants to buy

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9
Q

the __________ __________ goods and services

A

consumer demands

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10
Q

manufacturer-a_________ that makes the________that consumers_______

A

buisness,products,buys

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11
Q

supply-the ________of items that a business _________

A

amount,produces

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12
Q

profit-the amount of money earned from_________ minus the amount it_____ to make the product

A

selling,costs

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13
Q

manufacturers _________ the goods with the goal of making a _______

A

supply,profit

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14
Q

________ - a refusal to buy or use a product or to go to a certain place as a way of protesting something that the consumer does not like.

A

boycott

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15
Q

________ - when there is not enough of a certain item that people need, such as food, gas, or water

A

shortage

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16
Q

________ - manufacturers compete for consumers’ business by making good products at low prices

A

competition

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17
Q

________ - when only one business sells a product at any price they choose

A

monopoly

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18
Q

________- valuable products that people must have in order to live, natural products like land, water, sunlight, coal, oil.

A

resources

19
Q

Standard of Living - way of ________

A

life

20
Q

________ - run out of money

A

bankrupt

21
Q

________ - trading for goods

A

bartering

22
Q

________ - the rising of prices when the demand for a product is greather than the supply

A

inflation

23
Q

________ - the process of making coins

A

minting

24
Q

To use money to make a profit

A

invest

25
Q

To place money in a bank account

A

deposit

26
Q

To remove money from a bank account

A

withdraw

27
Q

The business of buying and selling stock

A

stockmarket

28
Q

A market with falling stock prices

A

bear market

29
Q

A market with rising stock prices

A

bull market

30
Q

Profits (earnings) received from a stock market investment

A

dividends

31
Q

Money that a bank or business will allow a person to use and then pay back in the future

A

credit

32
Q

Part into which debt is divided when payment is made at intervals

A

installments

33
Q

A charge for borrowed money, generally a percentage of the borrowed amount

A

interest

34
Q

A person can purchase items on ________ and pay his bill in small ______, but he must remember that he will pay _______ on the amount her borrows

A

credit
installments
interest

35
Q

A person can become a partial owner of a company by buying _____ of a company ________.

A

shares stock

36
Q

In the 1920’s buying _________ in American companies seemed an easy way to make _______ and was considered ________.

A

stock
money
patriotic

37
Q

When the _________ __________ crashed on Tuesday, October 29, 1929, stock prices lost more than ________ their value.

A

stock market
half

38
Q

October 24, 1929, is known as _________ _________, the day when people panicked and sold their stock before it became worthless.

A

Black Thursday

39
Q

The stock market crash showed people that they could not keep __________ and __________ money as they had been

A

borrowing spending

40
Q

STOCK MARKET CRASH (2 pieces)

_________ __________ October 24, 1929 – a rush to sell stocks.

_________ __________ October 29, 1929 – stocks lost more than half their value

A

Black Thursday

Black Tuesday

41
Q

STOCK MARKET

_________ __________ when stock prices FALL

_________ __________ when stock prices GO UP / RISE

A

Bear Market

Bull Market

42
Q

________ - money made from the stock market

A

Profit

43
Q

_________ use of money to make a profit

A

Invest

44
Q

__________ - profits received from selling shares

A

dividends

5th Grade - OLD, DO NOT USE (12 decks)

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