Industrialization Vocabulary

Industrialization Vocabulary

Assessment

Flashcard

Social Studies

8th Grade

Hard

Created by

Matthew Kaderli

FREE Resource

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33 questions

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1.

FLASHCARD QUESTION

Front

Capitalism (Free Enterprise System / Free Market Economy)

Back

The United States Economic System; where individuals own the means of production and individuals, not the government, decide the what and how of production and consumption through voluntary exchanges in a 'market'.

2.

FLASHCARD QUESTION

Front

Market

Back

A group of buyers and sellers of a particular good or service.

3.

FLASHCARD QUESTION

Front

Supply and Demand

Back

The idea that the price of a good rises and falls depending on how much of the good is available (supply) and how many people want it (demand).

4.

FLASHCARD QUESTION

Front

High Price

Back

Low supply, high demand.

5.

FLASHCARD QUESTION

Front

Low Price

Back

High supply, low demand.

6.

FLASHCARD QUESTION

Front

Corporation

Back

A business owned by stockholders who share in its profits, if there are profits, but are not personally responsible for its debts (limited liability).

7.

FLASHCARD QUESTION

Front

Stockholder

Back

An individual who owns stock in a company.

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