Chapter 7 Flashcards
1
Q
Consumerism
A
Economic theory that encourages the acquisition of goods and services in ever increasing amounts. Basically, it’s good for overall economy if people buy more things.
2
Q
Quality of Life
A
a measure of personal and collective well-being
3
Q
GDP
A
it measures economic activities in a country
4
Q
GDP per capita
A
A measure of how well-off the people of a country are
5
Q
Boycott
A
a decision by consumers to stop buying a product or service as a way to bring out change
6
Q
Consumer
A
those who use products and services
7
Q
Producer
A
Those who create products and services
