Social Studies

Question 1

the law of supply and demand-

definition:

Answer 1

the economics

principle stating that prices fall when goods are plentiful and rise when they are scarce.

Question 2

capitalism

part of speech:

sum:

definition:

Answer 2

noun

capital+ism (wealth)

a person’s wealth,free market with private ownership

Question 3

communism

part of speech:

definition:

Answer 3

noun,com+mune(cross of the e)+ism
a system characterized by a common ownership

Question 4

socialism

part of speech:

sum:

definition:

Answer 4

noun

social+ism

some buisnesses are owned by the people but gov’t own the majority resources

Question 5

credit

part of speech:

sum:

definition:

Answer 5

noun

crede(cross of the e)+it
to believe or trust

Question 6

law of supply and demand-the economics principle stating that prices________ when goods are___________ and _________ when goods are _________

Answer 6

economics,fall,plentiful,rise.and scarce

Question 7

consumer- a person who _______ or ________ a product

Answer 7

buys or uses

Question 8

demand-what and how much a consumer__________ ___ ______

Answer 8

wants to buy

Question 9

the __________ __________ goods and services

Answer 9

consumer demands

Question 10

manufacturer-a_________ that makes the________that consumers_______

Answer 10

buisness,products,buys

Question 11

supply-the ________of items that a business _________

Answer 11

amount,produces

Question 12

profit-the amount of money earned from_________ minus the amount it_____ to make the product

Answer 12

selling,costs

Question 13

manufacturers _________ the goods with the goal of making a _______

Answer 13

supply,profit

Question 14

________ - a refusal to buy or use a product or to go to a certain place as a way of protesting something that the consumer does not like.

Answer 14

boycott

Question 15

________ - when there is not enough of a certain item that people need, such as food, gas, or water

Answer 15

shortage

Question 16

________ - manufacturers compete for consumers’ business by making good products at low prices

Answer 16

competition

Question 17

________ - when only one business sells a product at any price they choose

Answer 17

monopoly

Question 18

________- valuable products that people must have in order to live, natural products like land, water, sunlight, coal, oil.

Answer 18

resources

Question 19

Standard of Living - way of ________

Answer 19

life

Question 20

________ - run out of money

Answer 20

bankrupt

Question 21

________ - trading for goods

Answer 21

bartering

Question 22

________ - the rising of prices when the demand for a product is greather than the supply

Answer 22

inflation

Question 23

________ - the process of making coins

Answer 23

minting

Question 24

To use money to make a profit

Answer 24

invest

Question 25

To place money in a bank account

Answer 25

deposit

Question 26

To remove money from a bank account

Answer 26

withdraw

Question 27

The business of buying and selling stock

Answer 27

stockmarket

Question 28

A market with falling stock prices

Answer 28

bear market

Question 29

A market with rising stock prices

Answer 29

bull market

Question 30

Profits (earnings) received from a stock market investment

Answer 30

dividends

Question 31

Money that a bank or business will allow a person to use and then pay back in the future

Answer 31

credit

Question 32

Part into which debt is divided when payment is made at intervals

Answer 32

installments

Question 33

A charge for borrowed money, generally a percentage of the borrowed amount

Answer 33

interest

Question 34

A person can purchase items on ________ and pay his bill in small ______, but he must remember that he will pay _______ on the amount her borrows

Answer 34

credit installments interest

Question 35

A person can become a partial owner of a company by buying _____ of a company ________.

Answer 35

shares stock

Question 36

In the 1920's buying _________ in American companies seemed an easy way to make _______ and was considered ________.

Answer 36

stock money patriotic

Question 37

When the _________ __________ crashed on Tuesday, October 29, 1929, stock prices lost more than ________ their value.

Answer 37

stock market half

Question 38

October 24, 1929, is known as _________ _________, the day when people panicked and sold their stock before it became worthless.

Answer 38

Black Thursday

Question 39

The stock market crash showed people that they could not keep __________ and __________ money as they had been

Answer 39

borrowing spending

Question 40

STOCK MARKET CRASH (2 pieces) _________ __________ October 24, 1929 -- a rush to sell stocks. _________ __________ October 29, 1929 -- stocks lost more than half their value

Answer 40

Black Thursday Black Tuesday

Question 41

STOCK MARKET _________ __________ when stock prices FALL _________ __________ when stock prices GO UP / RISE

Answer 41

Bear Market Bull Market

Question 42

________ - money made from the stock market

Answer 42

Profit

Question 43

_________ use of money to make a profit

Answer 43

Invest

Question 44

__________ - profits received from selling shares

Answer 44

dividends