Government & economics Flashcards

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0
Q

United Nations

A

An international organization whose aim is cooperation in international law, international security, economic development, human rights, social progress and achieving world peace

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1
Q

European Union

A

A political and economic union of many European countries. With a central bank and common economic system, a primary purpose is to form a single economic power to compete with the US, Japan, China, etc..

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2
Q

Traditional Economy

A

Goods are traded without exchanging money (also known as bartering).

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3
Q

Command Economy

A

Communism. Production is determined by a central government.

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4
Q

Market Economy

A

Free enterprise production is determined by the demand of consumers.

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5
Q

Mixed Economy

A

Socialism. Mix of command and market economy.

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6
Q

Primary

A

Raw materials ex. Timber, subsistence farming.

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7
Q

Secondary

A

Materials by changing there form ex. Steel to cars and cottage industries.

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8
Q

Tertiary

A

Business or professional services ex. Walmart, chilies, copy shop.

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9
Q

Quaternary

A

Provide information, management education, government, research.

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10
Q

Gross domestic product

A

The total value of goods and services produced in a country in a year.

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11
Q

Per Capita GDP

A

GDP divided by the total population.

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12
Q

Human Development Index

A

Measures poverty, literacy, education, life-expectancy, and other factors.

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13
Q

Literacy

A

The ability to read and write.

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14
Q

Life Expectancy

A

Average expected length of life.

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15
Q

Infant mortality rate

A

Low GDP and typically, and low HDI literary, income, and life-expectancy.

16
Q

Newly Developed

A

Rising GDP and HDI literacy, income and life-expectancy.

17
Q

More Developed

A

High GDP and HDI literacy, income and life-expectancy.

18
Q

Less Developed

A

Low GDP and typically, and HDI literacy, income and life-expectancy.