Economic And Great depression Flashcards
(42 cards)
Private or corporate ownership of goods and means of production,investments are determined by private decision and prices, production, and distribution of hoods are determined mainly by competition
Capitalist economy
System of producing goods and services,distribution,and money
Economy
System in which the means of production and goods are owned by the government and are available to all is needed along with elimination of private property.
Communist economy
System of collective or government ownership and administration of the means of production and distribution of goods
Socialist economy
Money that is left over after the expenses are paid
Profit
Represents a piece of a company’s growth and profits
Stock
The money needed to buy goods needed to produce a product
Capital
What quantity and what price people are willing and able to buy the product at given times
Demand
Share of profits paid to a stockholder
Dividend
What quantity and what price is available to buy at a given time
Supply
The rate of exchange for a good or service
Price
Negotiates contracts for purchase and sale
Broker
Amount loaned at a person’s disposal
Credit
Amount taken against a bank account
Debit
Period of reduced economic activity, a slow down
Recession
Increase in general price level
Inflatation
Period of low general economic activity in several areas marked especially by rising levels of unemployment
Depression
groups of shacks in which the homeless lived during the Great Depression
Hooverville
October 29, 1929 was the day the stock market crashed signaling started Great Depression
Black Tuesday
Region in the central Great Plains that was hit by severe drought during the 1930s
Dustbowl
Group of black leaders who unofficially advise Pres. Franklin D Roosevelt
Black cabinet
Worst period of economic decline in U.S history, 1929-1941
Great Depression
Veterans who marched to Washington in 19 3210 Amand immediate payment of world one bonus
Bonus army
Programs that help the needy
Relief programs