People, Work And Development - Terminology (1)

Question 0

Employment

Answer 0

Regular trade or profession in return for momey

Question 1

Work

Answer 1

Any occupation
Paid/unpaid
Formal/informal

Question 2

Underemployment

Answer 2

Insufficient paid work got an individual during the day or week

Question 3

Unemployed

Answer 3

Lack of paid work

Question 4

Employment opportunities

Answer 4

Jobs that people, often employment, can apply for

Question 5

Automation/mechanism

Answer 5

The replacement if people (workers) by machines and computers

Question 6

Grants/subsidies

Answer 6

Government grants (capital) to encourage economic activity

Question 7

Tariffs

Answer 7

Customs duty (tax) charged on foreign imports

Question 8

Quotas

Answer 8

A limit in the amount of goods that an be traded.

Commonly applied to limit imports of selected items

Question 9

Labour

Answer 9

The work force of an area

Question 10

Market

Answer 10

The location of the people to whom goods produced are sold

Question 11

Infrastructure

Answer 11

The built environment (roads, power supplies etc) that support the industry economy

Question 12

Capital

Answer 12

Wealth created from economic activity usually money but also stocks, shares, buildings and machines

Question 13

Costs

Answer 13

Expense incurred in setting up or running an economic activity

Question 14

Imports/exports

Answer 14

Goods brought into and sent out of one country to and from another

Question 15

Public/private investment

Answer 15

Money that is out into a development for later profits from council or government/private individuals or businesses

Question 16

Linkages

Answer 16

Connections between different components in an economic system

Question 17

Rationalism

Answer 17

Process of recognition in an industry to achieve greater efficiency
Usually involves cut back if workers

Question 18

Employment structure

Answer 18

Classification of jobs: primary, secondary and tertiary

Question 19

Primary sector

Answer 19

Industry involved in the extraction of natural materials

Fishing, farming, forestry and mining

Question 20

Secondary sector

Answer 20

Industry involved in the manufacturer of goods from raw materials

Question 21

Tertiary sector

Answer 21

Industry involved in the sale if the manufactured goods of provision of services
(shopping, transport)

Question 22

Quaternary sector

Answer 22

Industry involved in the provision of information

Question 23

Formal work

Answer 23

Properly regulated work

factory employment

Question 24

Informal work

Answer 24

Work done by people that is not recorded it regulated by the government and is not controlled or taxed.

Question 25

Economic activity

Answer 25

Any human activity involving capital (the payment of money eg. Farming, factory production)

Question 26

Economic development

Answer 26

The growth if one or more aspects of an area’s economy (eg. Agriculture, industry, commerce)

Question 27

Co-operative

Answer 27

An association of people organised for their mutual benefits in the production and/or marketing if goods and services

Question 28

Transitional corporation/multinational company

TMC/MNC

Answer 28

A large company with branched or production units in several countries
(Ford and coca cola)

Question 29

Newly industrialised country (NIC)

Answer 29

Countries that ate rapidly changing from LEDCs to MEDCs

South Korea and Taiwan

Question 30

More economically developed countries (MEDCs)

Answer 30

Countries with high GNP that have become wealthy by developing farming, industry and services

Question 31

Less economically developed countries (LEDCs)

Answer 31

Countries with a low GNP that are usually trying to boost living standards by developing their economic resources

Question 32

European Union (EU)

Answer 32

The economic organisation of a group of European countries to promote common trading, economic and social policies got mutual benefit

Question 33

Gross nation product (GNP)

Answer 33

The total value if a country’s goods and services during one year, usually divided by the number of the population (per capita)

Question 34

Case studies for this topic (5-6)

Answer 34

Aid in Mali 
Cambridge science park
Ghana and its trade
Nokia, a MNC
Regional regeneration of South Wales 
(London docklands)