Economic issues

Question 1

Primary sector

Answer 1

involves collecting or extracting raw materials (farming, mining)

Question 2

Secondary sector

Answer 2

Involves turning raw materials into a finished product that can be bought (butchers, mill workers)

Question 3

Tertiary sector

Answer 3

Providing services to people (nurse, teacher, hairdresser, lawyer) most important in wealth generation.

Question 4

Economic disparity

Answer 4

An inequality in which some people or countries are much better off economically than other people or countries. Globalization tends to increase this.

Question 5

Poverty

Answer 5

The minimum level of income deemed adequate in a particular country.

Question 6

local economic disparity

Answer 6

exists for citizens in their individual lives due to income inequality.

Question 7

national economic disparity

Answer 7

When the same factors begin to show differences between regions within a country.

Question 8

colonialism

Answer 8

When one country rules another and develops trade with that country for their own benefit.

Question 9

neocolonialism

Answer 9

Control of one country over another based on economic dominance rather than political.

Question 10

Transnational corporations

Answer 10

large countries with many areas of business that operate in two or more countries (multinationals)

Question 11

transnational

Answer 11

spanning across national boarders/involving multiple countries.