Java Games: Flashcards, matching, concentration, and word search.

OGT 10 ECONOMICS TERMS

USE THIS ACTIVITY TO FAMILIARIZE YOURSELF WITH THE TERMS FROM THE ECONOMICS BENCHMARKS OF THE 10TH GRADE OGT.

AB
ABSOLUTE ADVANTAGEONE COUNTRY PRODUCES A PRODUCT AT A LOWER COST
COMMAND ECONOMYA CENTRAL GOVERNMENT MAKES ALL DECISIONS ON PRODUCTION AND CONSUMPTION
COMPARATIVE ADVANTAGEABILITY TO PRODUCE GOODS/SERVICES AT A LOWER OPPORTUNITY COST THAN OTHERS
EXPORTSGOODS SOLD TO OTHER COUNTRIES
IMPORTSGOODS PURCHASED FROM OTHER COUNTRIES
INFRASTRUCTUREEXAMPLES: PUBLIC BUILDINGS, ROADS, BRIDGES, ETC.
MARKET ECONOMYDECISIONS ON PRODUCTION AND CONSUMPTION ARE MADE BY INDIVIDUALS ACTING AS BUYERS AND SELLERS
MIXED ECONOMYCOMBINES FEATURES OF MORE THAN ONE OF THE TRADITIONAL, COMMAND, AND MARKET SYSTEMS
OPPORTUNITY COSTTHE VALUE OF THE NEXT BEST ALTERNATIVE GIVEN UP WHEN A CHOICE IS MADE
PRODUCTIVE RESOURCESRESOURCES USED TO MAKE GOODS/SERVICES; EXAMPLE: NATURAL RESOURCES, HUMAN RESOURCES, AND CAPITAL GOODS
SPECIALIZATIONTHE CONCENTRATION OF PRODUCTION ON FEWER KINDS OF GOODS/SERVICES THAN ARE CONSUMED
STANDARD OF LIVINGA PERONS'/GROUP'S LEVEL OF MATERIAL WELL-BEING; MEASURED BY EDUCATION, HOUSING, HEALTH CARE, NUTRITION
TRADITIONAL ECONOMYDECISIONS ON PRODUCTION/CONSUMPTION ARE BASED ON CUSTOMS, BELIEFS, RITUALS, AND HABITS
ANTITRUST LEGISLATIONLAWS PASSED TO PREVENT NEW MONOPOLIES AND BREAK UP EXISTING ONES
CIRCULAR FLOW MODELA DIAGRAM THAT SHOWS THE FLOW OF ECONOMIC ACTIVITY AMONG SECTORS OF THE ECONOMY
CREDITTHE PURCHASE OF GOODS/SERVICES IN THE PRESENT WITH THE PROMISE TO PAY FOR THEM IN THE FUTURE
FEDERAL RESERVE SYSTEMA NATIONAL BANKING SYSTEM, CREATED IN 1913, THAT CONTROLS THE U.S. MONEY SUPPLY AND AVAILABILITY OF CREDIT
INTEREST RATESTHE PERCENTAGE OF A LOAN THAT MUST BE REPAID IN ADDITION TO PAYING THE PRINCIPLE.
INTERNATIONAL TRADETHE EXCHANGE OF GOODS BETWEEN COUNTRIES
MONETARY POLICYPOLICY THAT INVOLVES CHANGING THE AMOUNT OF MONEY IN CIRCULATION BY CHANGING THE INTEREST RATES
MONEYANYTHING USED AS A MEDIUM OF EXCHANGE
PROTECTIONISMEFFORTS TO RESTRICT IMPORTS IN ORDER TO PROTECT DOMESTIC INDUSTRIES
QUOTASTHE MAXIMUM NUMBER OF PEOPLE/PRODUCTS THAT MAY BE ADMITTED TO AN INSTITUTION OR COUNTRY
RECESSIONA DOWNTURN IN THE BUSINESS CYCLE DURING WHICH THE GDP (GROSS DOMESTIC PRODUCT) DOES NOT GROW FOR AT LEAST 6 MONTHS
TARIFFSTAXES IMPOSED ON IMPORTED GOODS
DOMESTICMADE/DONE AT HOME; NOT FOREIGN



This activity was created by a Quia Web subscriber.
Learn more about Quia
Create your own activities