2020 Revision for EOS Test Flashcards
Latitude
Distance north or south of the equator, measured in degrees
Longitude
The distance in degrees east or west of the prime meridian
Prime Meridian
The meridian, designated at 0 degrees longitude, which passes through the Royal Observatory at Greenwich, England
International Date Line
The line of longitude that marks where each new day begins, centred on the 180th meridian
Equator
An Imaginary line drawn around the earth equally distant from both poles, dividing the earth into northern and southern hemispheres and constituting the paralled of latitude 0 degrees.
the quantity of a good or service that consumers are willing and able to buy
The quantity of something that producers have available for sale
Capital
money or resources used for investment in production
movement of people from one place to another
The skill of running and the organisation of a business
Urbanisation
The increase in the proportion of people living in towns and cities
Price
The amount of money exchanged for a good or service
Process in which sediment is laid down in new locations.
Processes by which rock, sand, and soil are broken down and carried away by weathering, glaciers, wind or water
Franchise
A business established or operated under an authorization to sell or distribute a company’s goods or services in a particular area
Sole Trader
business owned and operated by one person
Company
A business or association usually formed to manufacture or supply products or services for profit.
Market Economy
economic system in which decisions on production and consumption of goods and services are based on voluntary exchange in markets
