What does "capital" refer to in economics?
Economics Review Lessons 1-5

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Social Studies
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6th - 8th Grade
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Easy
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1.
FLASHCARD QUESTION
Front
Back
Tools and machines used to produce goods; people's skills and knowledge
2.
FLASHCARD QUESTION
Front
If the demand for a product increases but the supply stays the same, what will likely happen to the price?
Back
The price will go up.
3.
FLASHCARD QUESTION
Front
When there is too much of a product and not enough buyers, what is this situation called?
Back
Surplus
4.
FLASHCARD QUESTION
Front
What is an export?
Back
A product sent to another country for sale
5.
FLASHCARD QUESTION
Front
Why do countries trade with one another?
Back
Because no country can produce everything it needs
6.
FLASHCARD QUESTION
Front
What are taxes used for?
Back
To pay for public services like schools and roads
7.
FLASHCARD QUESTION
Front
Which of the following is an example of saving? Spending money on new shoes, Putting money into a bank account, Borrowing money to buy a car, Paying taxes
Back
Putting money into a bank account
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