Globalisation

Question 1

sustainable

Answer 1

Being able to continue without harm to animals, people, or the environment.

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Question 2

supply chains

Answer 2

All of the parts that go into making a product or service and where they come from.

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Question 3

consumer

Answer 3

In an economy, this is the person who buys products and services

Question 4

corporation

Answer 4

A large business owned by many investors, often operates in many countries. There may be several companies under this business with many different goods and services.

Question 5

disposal

Answer 5

The act of getting rid of something after it is no longer needed. This is the final stage of the production cycle.

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Question 6

distribution

Answer 6

Moving a product from the factory to many locations so the consumer can buy it.

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Question 7

ethics

Answer 7

How you are supposed to behave according to society’s morals and values. In our study we are focused on acting in a way that does not harm people or the environment.

Question 8

extraction

Answer 8

Removing materials from the earth to be used in production of a product or service.

Question 9

goods and services

Answer 9

A company can sell goods, or services. A “good” is something you can actually see and touch, such as a hamburger, a golf ball, shoelaces, etc. A “service” is something someone does for you, such as a haircut, a flight to Canada, washing your clothes, etc.

Question 10

greenwashing

Answer 10

Trying to make a product or service sound like it is environmentally friendly when it is not.

Question 11

labor (labour), also ‘employee’.

Answer 11

This word refers to workers. This means the people who work for a corporation. To say “forced labour” would mean to say someone is being forced to work and they are not getting paid enough, or not able to leave

Question 12

monopoly

Answer 12

When one corporation can control prices because they are the consumer’s only choice.

Question 13

perceived obsolescence

Answer 13

The consumer has the perception that a product needs to be replaced.

Question 14

planned obsolescence

Answer 14

Designing a product so that it will fail after a certain period of time and need to be replaced.

Question 15

production (also manufacturing)

Answer 15

In economics, the putting together of products that will be sold.

Question 16

supply and demand

Answer 16

Economic rules about how prices will change.

Question 17

tax, taxes, taxation

Answer 17

Money collected by a government to pay for services that it does not want to put in the hands of a corporation/business/company, (e.g. health care).

Question 18

The Materials Economy.

This is also known as ‘The Production Cycle’

Answer 18

The life cycle of a product: extraction, production, distribution, consumption, and disposal

Learn more by watching this video and/or completing this assignment.

Question 19

union (to unionise)

Answer 19

An organization of workers (employees, labourers) who negotiate with employers as a group to improve working conditions