EXAM SEMESTER 1 Flashcards
(30 cards)
WELLBEING
the ability to access the things you need in order to live happy, healthy and content lives. Measured by HDI. e.g: Australia has high wellbeing, South Sudan has low wellbeing
GINI COEFFICIENT
based on the comparison of total proportions of population against total proportions of income they receive, found on the Lorenz curve
WEALTH
the total value of assets and possessions owned by an individual, e.g: a house or other valuable assets
INCOME
the money an individual receives in exchange for working or making other resources. e.g: a 15 year old receiving money from a part time job
INCOME/WEALTH INEQUALITY
how unevenly income is distributed throughout a population, shown on the Lorenz curve
INFANT MORTALITY RATE
the probability of a child born in a specific year or period dying before they reach the age of one. E.g: bolivas infant mortality rate is 25.303 per 1,000 children
LIFE EXPECTANCY
the number of years a person can expect to live. E.g: bolivias life expectancy rate is 72.35 years
LITERACY RATE
the percentage of people in a population that are able to read and write, e.g: Bolivias literacy rate is 93.85%
QUALITIVE INDICATORS
data measured using opinions, surverys, beliefs or values. e.g: a survey
QUANTATIVE INDICATORS
data measured by using numerical results such as GDP or GNI. e.g: GDP
SUSTAINABILITY
the responsibility to conserve natural resources and protect global ecosystems to support health and wellbeing
ENVIROMENT
the surroundings or conditions in which a person, animal or plant lives and operates
ENVIROMENTAL CHANGE
changes of the enviroment either caused by natural or human rescources
UNEMPLOYMENT
the state of being unemployed, must be 15 years or older, without work, available for work and actively seeking work
LABOUR FORCE
the number/group of people who are currently working and/or able to work
GDP PER CAPITA
the sum of all gross domestic products produced within a country, measured in US dollars. e.g bolivias gdp is 3,345 USD
SOCIAL IMPACT
the effect on people and communities that happens as a result of an action or inaction. e.g: providing access to clean drinking water
ENVIROMENTAL IMPACT
any change to the environment, can be harmful or beneficial. e,g: pollution
ECONOMIC IMPACT
the effect of an event on the economy in a specified area. e.g: a business growing in a region
ETHICS
when a consumer chooses to buy or not to buy a rooduct based off their own values and beliefs. e.g: someone choosing not to buy ‘blood diamonds’ because of child labour involved
PRICE
the amount of money paid by customers for a product or service. e.g: choosing to buy Louis Vuittion because its expensive
SOCIAL/CULTURAL
factors that relate to a persons backgrounds and are shaped by their culture. e.g: Jewish people are less likely to buy pork products
MARKETING
how a company will promote its product, can involve market research and advertising. e.g: many companies use social media to build up their brand
AGE
how a persons age influences their decision, e.g: a teenager is more likely to spend money on shoes than a person in their 20s saving for a house deposit
