Social Unit 3 Flashcards
Ecological footprint?
The area of the earths surface that is needed to sustain the level of resources a person uses and the waste they crest
Containerization?
The transporting of goods in standard sized shipping containers.
Economic depression?
A period of low economic activity accompanied bu high levels of unemployment.
Foreign Aid?
Money, supplies and other goods as well as the expertise given by one country to another.
Free trade?
Trade without taxes or tariffs
Gross national income?
The amount of money earned by everyone in a country
Market economy?
Government regulations are reduced to a minimum - businesses are free to make decisions
Non-government organization?
An organization established by groups of people to work towards specific goals and to gain public support
Outsourcing?
Business strategy that involves reducing costs by using cheaper supplies and production using cheap labour
