Econ Chapter 2 Vocab Flashcard

Econ Chapter 2 Vocab Flashcard

Assessment

Flashcard

Social Studies

10th - 12th Grade

Hard

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38 questions

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1.

FLASHCARD QUESTION

Front

Structure of methods and principles a society uses to produce and distribute goods

Back

Economic System

2.

FLASHCARD QUESTION

Front

Income received for supplying production factors

Back

Factor Payments

3.

FLASHCARD QUESTION

Front

Level of economic prosperity

Back

Standard of living

4.

FLASHCARD QUESTION

Front

Relies on habit, custom, or ritual to answer basic economic questions.

Back

Traditional Economy

5.

FLASHCARD QUESTION

Front

Money a business receives beyond expenses.

Back

Profit

6.

FLASHCARD QUESTION

Front

Bringing new methods, products, or ideas into use

Back

Innovation

7.

FLASHCARD QUESTION

Front

Programs protecting people from economic hardships like layoffs or disasters.

Back

Safety Net

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