Chapter 10 Flashcards
Chapter 10 Vocab Words
Austerity Strategy
Government should sharpley remove taxes so people can save their money. They would cut government projects to decrease debt.
Stimulus Strategy
Government should spend more money than they do with taxes, then stimulate economy by making people work on government projects
Primary
Activities that direct,y take things from earth (Agriculture, Minery, Fishing, and Foresty)
Secondary Sector
Manufacturing raw materials to products such as manufactured goods, consumer goods.
Tertiary Sector:
Proviosns of goods and services to people in exchange of payment: (Retaling, Banking, Law. Education, Gov )
Fair Trade
Ensure producers in developing countries, (particularly farmers and artisans) , receive fair prices for their goods, promoting equitable trade practices, sustainable livelihoods, and improved working conditions,
Free Trade
International trade left to its natural course without tariffs, quotas, or other restrictions.
Informal Economy
economic activities that are not regulated by the government, operating outside of formal labor laws and protections, often including street vending, unregistered small businesses, and casual labor,
Microloan
a very small loan provided to individuals, particularly in developing countries, who might not qualify for traditional bank loans due to lack of credit history or collateral, used to start or expand small businesses and contribute to economic development within communities; loans are typically aimed at empowering women and alleviating poverty.
Structual Adjustment Program.
Economic policies, often imposed by international organizations like the World Bank and IMF, that developing countries must implement in order to receive loans, Meant to strengthen economic growth.
Sustainable Developtment Goals
a set of 17 goals that aim to improve the lives of all people by 2030, (Ex No Poverty, No Hunger, Sustaniable and Clean energy)
