sustainable prosperity pt2 Flashcards
(17 cards)
What is Sustainable Prosperity?
The ability of a society to maintain a high standard of living while preserving resources for future generations. It involves balancing economic growth, environmental stewardship, and social well-being.
What defines a Knowledge Economy?
An economy where growth is dependent on the quantity, quality, and accessibility of information available, rather than the means of production.
What is Privatization?
The process of transferring ownership of a business, enterprise, agency, or public service from the public sector (government) to the private sector (individuals or businesses).
What does Outsourcing mean?
Contracting out business processes or services to third-party providers, often in other countries, to reduce costs.
What is Environmental Stewardship?
Responsible use and protection of the natural environment through conservation and sustainable practices.
What is the Kyoto Protocol?
An international treaty that commits state parties to reduce greenhouse gas emissions, based on the scientific consensus that global warming is occurring and human-made CO₂ emissions are driving it.
What is Economic Globalization?
The increasing interdependence of world economies as a result of the growing scale of cross-border trade of goods and services, flow of international capital, and wide and rapid spread of technologies.
What is an Ecological Footprint?
A measure of the environmental impact of an individual or population, expressed in the amount of land required to sustain their use of natural resources.
What does GPI (Genuine Progress Indicator) represent?
An alternative to GDP, it includes economic, environmental, and social factors to provide a more comprehensive measure of well-being and sustainable development.
What is GDP (Gross Domestic Product)?
The total monetary value of all goods and services produced within a country in a specific time period. Often used as an indicator of economic health.
What is Trade Liberalization?
The removal or reduction of trade barriers (like tariffs or quotas) to encourage free trade between countries.
What is Foreign Investment?
When individuals, companies, or governments from one country invest in assets or businesses in another country.
What is Sustainability?
Meeting the needs of the present without compromising the ability of future generations to meet their own needs.
What is a Carbon Tax?
A fee imposed on the burning of carbon-based fuels (coal, oil, gas). It’s a way to reduce greenhouse gas emissions by making fossil fuels more expensive.
What does the Human Development Index (HDI) measure?
A measure of a country’s level of human development, based on life expectancy, education, and per capita income.
What is Quality of Life?
The general well-being of individuals and societies, encompassing not just wealth and employment but also environment, physical and mental health, education, recreation, and leisure time.
What defines Standard of Living?
The level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
