Flintknapping is the term used to refer to the production of flaked stone tools.
"Knapp" is an older term for work, so flintknapping= flint working! Not just any stone will do, either. The stones used for flintknapping are very high in silica, and are almost glass-like. The geometry and unique characteristics of each material lends itself to a host of different tools, points, and blades.
Any stone that is silica bonded and breaks in a hertzian cone! Flints, cherts, agates, quartz, jasper, chalcedony, obsidian... the list goes on and on. These materials can be flaked into all sorts of beautiful and sharp end products.
A good portion of artifacts referred to as "arrowheads" probably arent. True arrow points are usually smaller than the pad of your thumb, if its larger, more than likely what you have is a spear point or knife blade or both!
Traditionally arrow points are not long term use items, they are made quickly and are effective, single use tools. Many old knappers would create stockpiles of points to be traded or used later. Today I make points for hunting as well as an art form, so I may spend anywhere from an hour to 4 or 5 hours on a point.
Of all the things I offer, my flintknapping has the most varied prices, from 20 dollars an inch for hunting points, to individual prices for collector pieces, occasionally selling for more than 200 dollars.