Social Studies Flashcards
the law of supply and demand-
definition:
the economics
principle stating that prices fall when goods are plentiful and rise when they are scarce.
capitalism
part of speech:
sum:
definition:
noun
capital+ism (wealth)
a person’s wealth,free market with private ownership
communism
part of speech:
definition:
noun,com+mune(cross of the e)+ism
a system characterized by a common ownership
socialism
part of speech:
sum:
definition:
noun
social+ism
some buisnesses are owned by the people but gov’t own the majority resources
credit
part of speech:
sum:
definition:
noun
crede(cross of the e)+it
to believe or trust
law of supply and demand-the economics principle stating that prices________ when goods are___________ and _________ when goods are _________
economics,fall,plentiful,rise.and scarce
consumer- a person who _______ or ________ a product
buys or uses
demand-what and how much a consumer__________ ___ ______
wants to buy
the __________ __________ goods and services
consumer demands
manufacturer-a_________ that makes the________that consumers_______
buisness,products,buys
supply-the ________of items that a business _________
amount,produces
profit-the amount of money earned from_________ minus the amount it_____ to make the product
selling,costs
manufacturers _________ the goods with the goal of making a _______
supply,profit
________ - 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.
boycott
________ - when there is not enough of a certain item that people need, such as food, gas, or water
shortage
________ - manufacturers compete for consumers’ business by making good products at low prices
competition
________ - when only one business sells a product at any price they choose
monopoly
________- valuable products that people must have in order to live, natural products like land, water, sunlight, coal, oil.
resources
Standard of Living - way of ________
life
________ - run out of money
bankrupt
________ - trading for goods
bartering
________ - the rising of prices when the demand for a product is greather than the supply
inflation
________ - the process of making coins
minting
To use money to make a profit
invest
To place money in a bank account
deposit
To remove money from a bank account
withdraw
The business of buying and selling stock
stockmarket
A market with falling stock prices
bear market
A market with rising stock prices
bull market
Profits (earnings) received from a stock market investment
dividends
Money that a bank or business will allow a person to use and then pay back in the future
credit
Part into which debt is divided when payment is made at intervals
installments
A charge for borrowed money, generally a percentage of the borrowed amount
interest
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
credit
installments
interest
A person can become a partial owner of a company by buying _____ of a company ________.
shares stock
In the 1920’s buying _________ in American companies seemed an easy way to make _______ and was considered ________.
stock
money
patriotic
When the _________ __________ crashed on Tuesday, October 29, 1929, stock prices lost more than ________ their value.
stock market
half
October 24, 1929, is known as _________ _________, the day when people panicked and sold their stock before it became worthless.
Black Thursday
The stock market crash showed people that they could not keep __________ and __________ money as they had been
borrowing spending
STOCK MARKET CRASH (2 pieces)
_________ __________ October 24, 1929 – a rush to sell stocks.
_________ __________ October 29, 1929 – stocks lost more than half their value
Black Thursday
Black Tuesday
STOCK MARKET
_________ __________ when stock prices FALL
_________ __________ when stock prices GO UP / RISE
Bear Market
Bull Market
________ - money made from the stock market
Profit
_________ use of money to make a profit
Invest
__________ - profits received from selling shares
dividends
