Economic Activity and Energy Flashcards
(88 cards)
what is the cycle of poverty
A self perpetuating pattern of poverty and deprivation that passes from one generation to the next it is perpetuated by poor educational opportunities and low income
what is de-industrialiasation
the process whereby the importance of manufacturing in the economy declines
what is disposable income
income that is left after taxes and social security charges have been deducted, income that can be spent or saved as a household
what is economic sector
a major division of the economy based on the type of economic activity. The economies of all countries are made up of three sectors
What is globalisation
a primarily economic process, increasing the integration of national markets for goods and services into a single global economy of market
What is global shift
The movement of manufacturing from HICs to cheaper production locations in LICs
What is industrialisation
the process by which an economy is changed from a primarily agricultural one to one based on the manufacturing of goods
informal employment
Types of work that are not officially recognized and are taken up by people working for themselves on the streets of LIC cities like shoe shining, selling stuff on the street
what is outsourcing
a practice used by some companies to obtain goods or services by contract from an outside supplier, rather than providing those goods or services themselves
what is overpopulation
when the population of an area cannot be adequately supported by available resources
What is the primary Sector
economic activities concerned with the working of natural resources-agriculture, fishing, mining, and quarrying
what is the secondary sector
economic activities concerned with making things, such as cars, buildings and electricity
what is the tertiary sector
activities that provide a wide range of services and enable goods to be traded
what is the quaternary sector
economic activities that provide highly skilled services such as collecting and processing information, research and development
what is the production chain
a sequence of stages in which companies exploit resources, transform them into goods and distribute them to consumers; it is a pathway along which goods travel from producers to consumers
what is a sector shift
a change in relative importance of an economy’s sector
what is a transnational company(TNC)
a large company operating in several countries and often involved in a variety of economic activites
what is underemplyment
a situation in which a person seeking full-time employment can only find part-time jobs
what is the energy gap
the difference between energy demand and energy supply
what is energy security
the ability of a country to meet all of its energy needs reliably, preferably within its own borders
what is the energy mix
the different types of energy that comprise the supply of energy for a country. It is best to have a varied energy mix so a country isn’t over-reliant on one course if there is ever a problem with its supply
what is energy demand
amount of energy needed to meet the needs of the population
High tech industry
Economic activities that rely on advanced scientific research and produce new, innovative and technologically advanced products, such as microchips, new medical drugs and new materials
what is energy production and its factors
amount of energy produced by each energy source
Energy demand and production varies globally and is effected by:
population growth,
increased wealth
technological advances