Politics & Economics

Question 1

Income per capita

Answer 1

Average income per-person

Question 2

rentier state (ron-tee-aye)

Answer 2

when a state/country’s revenue is mostly from foreign aid or funding - it’s unsustainable.¬†

e.g. Afghanistan, where 80% of government funding is from international sources

Question 3

what are the 2 types of inflation?

Answer 3

demand pull and cost push

Question 4

what is inflation?

Answer 4

when the price of an item increases

Question 5

ROI

Answer 5

Return on investment

Question 6

cost-push

Answer 6

type of inflation where a certain aspect of a good (e.g. the rubber used to make tired for a car) causes the whole item to be more expensive (e.g. because tires are more expensive, the whole care is more expensive).

Question 7

demand pull

Answer 7

a type of inflation where supply is greater then demand, meaning supply is limited and therefore more expensive 

e.g. covid reduced flights from UK to France, lots of people still wanted to fly though, so the price of tickets increased until only the right number of people could afford a plane ticket

Question 8

soft power

Answer 8

when a country tries to gain power by getting people to like them vs hard power where which is obtained by coercion

e.g. south korea investing in music/pop culture/beauty products to gain international attention and billions of dollars

Question 9

SDI

Answer 9

Socio-Demographic Index

A measure of development from 0 (low) to 1.

Question 10

Sanctions

Answer 10

1. a threatened penalty for disobeying a law or rule; a punishment