G9 IH Flashcards

1
Q

Who created the hierarchy of needs?

A

Abraham Maslow

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2
Q

What is the first layer in the hierarchy of needs called?

A

Physiological needs

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3
Q

What are the 2 main layers in the hierarchy of needs called

A

Physiological and Safety needs

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4
Q

What things are the physiological needs

A

Air, water, food, shelter, sleep, clothing, reproduction

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5
Q

What things are the safety needs?

A

Personal security, resources, employment, health, property

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6
Q

What are the love and belonging needs?

A

Friendship, intimacy, family, connection

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7
Q

What are the self-actualisation needs?

A

desire to become the most a person can be

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8
Q

choose the correct option:

Identity is a
1. moral science
2. social construct

A
  1. social construct
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9
Q

What changes when we move from ‘I’ to ‘Us’ and vice versa

A

There is a change in the identity of the person as well as the collective responsibility the person owns

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10
Q

Who was Emile durkheim?

A

David Emile Durkheim was a French philosopher and scholar born on April 15th 1858. He is considered one of the main principals of sociology alongside Karl Marx, and Max Webber. Durkheim transformed our understanding of society using his theory of sociology. He traced the evolution of society from traditional to modern, emphasising the division of labour. He linked society to a living body where each system functions with each other to survive. His work focused on social order, unity and anomie (lack of social and ethical standards).

Despite personal setbacks like comments on his identity and the loss of his son, his legacy continues today

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11
Q

Who was Karl Marx?

A

Karl Henrich Marx was a German philosopher and economist who was born on May 5th 1818. He developed the theory of Marxism as well as various other social, economic and political theories. He is considered one of the 3 principal architects alongside Emile Durkheim and Max Weber

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12
Q

What is population density

A

Number of people living in an area

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13
Q

Why will population size grow?

A

they know how to survive and can adapt to their surroundings

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14
Q

Proper living conditions result in

A

Advancement in different fields

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15
Q

Give one example where people adapted to their surroundings to survive

A

Hong Kong

The land space there is very low but it also has a relatively high population. Hence to accommodate all of the people, instead of expanding their homes horizontally, they built upwards. That is one of the main reasons why Hong Kong has some of the biggest high-rise buildings in the world.

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16
Q

Why does population density go down

A
  1. Abortion or a lower need for reproduction
  2. Diseases or virus outbreaks causing a massive amount of deaths (COVID-19)
  3. Older population - cant reproduce
  4. Famine, droughts or other natural disasters
  5. Poverty or poor quality of Life
  6. Wras and man-made conflicts
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17
Q

What are the building blocks of a society (according to durkheim)?

A

Population density and Technological advancements

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18
Q

What is the moral density?

A

Ways and to what extent people interact with each other

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19
Q

What are the 2 different types of societies according to Durkheim?

A

Mechanical solidarity
Organic solidarity

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20
Q

Mechanical solidarity

A

Smaller and simpler society and mainly emotion-based
Pre-modern society
Easier to delegate tasks and share resources as everyone has one common goal to survive
Everyone has the same skillset
Simpler requirements

Eg - Our hunter ancestors who hunted, gathered and moved from place to place

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21
Q

Organic Solidarity

A

Modern and larger type of society
more complex
higher requirements (upper level of Maslow’s pyramid)
More luxurious
Basic needs didn’t change, instead, we added more requirements on top of it
More practical and professional as everyone has different skills

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22
Q

4 economic systems

A
  1. Primitive Communism
  2. Slavery
  3. Feudalism
  4. Capitalism
  5. Communism
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23
Q

What does the economic system do?

A

Divide labour and resources in an organic solidarity

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24
Q

Slave driven society

A

the economy is dependent on slaves
as you move across history, there are fewer slave-driven societies

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25
Q

slave-owning society

A

People own slaves but they are independent
the economy is not based on slaves
found in recent history

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26
Q

Feudalism

A

Prominent in Europe, this system of production was based on hereditary rule and land ownership

Monarchs had a lot of power and would distribute some of it (slaves and peasants) to their lords and vassals in exchange for military

Lords would give some power (shelter food and protection) to the knights in exchange for military

Knights would give some power (shelter and land) to the peasants and serfs for farming and rent

The church was a separate body which also held a lot of power

Eg - Roman empire

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27
Q

Capitalism

A

Employed throughout most of the world today

Ownership is based on capital rather than slaves or land

Capitalists (businessmen) use capital to hire workers to turn raw materials into something that can be used or something that can be traded, something that can be sold

Everything is based on profit and gain and about making money

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28
Q

Who were investors

A

Investors (owners of capital) use their money to invest in profitable businesses to gain profit

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29
Q

Problems of capitalism

A
  1. Inequality
  2. Economic Instability
  3. Monopoly power
  4. Environmental damage
  5. Immobility (difficult for people to change their situation, eg - a labourer cant be a businessman)
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30
Q

Slavery

A
  • Oppressive system
  • slaves were separated from their family
  • Slaves had nothing except the things their master gave them, these things could also be taken back at any moment
  • cheapest form of production
  • slaves had no other loyalty except to their masters

Eg - Ancient greek, regarded as one of the most developed kingdoms but still used slavery as a method of production

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31
Q

History of Communism

A

After peak of capitalism, Marx and sociologists found flaws in it such as
-workers being treated unfairly
- huge pay gaps between rich and poor

This caused a revolution led by the proleteriats against the burgoises called the Labour movement in the 18th century

This movement resulted in communism where everyone owns and shares resources and there is no more social segregation

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32
Q

Communism

A

Based on our ancestors ideologies
No inherited wealth
Even distribution
Stateless - Eveyone lives together with no borders
Classless - No discrimination
Wealth is distributed based on needs rather Profit
Private poession is there but not private ownership
Moneyless society - aquisation of wealth is no longer the driving force

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33
Q

Communism simple defination

A

From each according to his ability to each according to his needs

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34
Q

Communism negatives

A

Utopian society
Unrealsitci
Formation of an hierarchy is inevitable
Eg - Lenin implmented his idea of communism in the USSR and while it was good in the started, after some protests, he made it single party state where the government had the say (which difered from marx’s communism)

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35
Q

KARL marx communism theory

A

workers would rise and revolt against elites to create a utopian society beneifical for everyone

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36
Q

Social groups and why do people form them?

A

2 or more people who interact with each other and have a collective sense of unity

peopleform social groups because of our basic need to belong (social connection) and the practical advantages groups provide (sharing of knowedlge and multiple perspectives)

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37
Q

Socialism

A

From each according to his ability to each according to his contribution

everyone will work to their abilities and get rewarded to their contributions

Communism states that everyone gets resources based on their needs, socialims states that everyone gets resoucres based on level of hard work done

Economic system based on society and social justice

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38
Q

How does tech change social groups?

A

changes the way people communicate

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39
Q

How does population density change social groups?

A

Brings people closer together

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40
Q

What is the Industrial Revolution?

A

The Industrial Revolution was a period of significant economic, technological, and social changes that began in the late 18th century, marked by the shift from handcraft-based economies to industrial and machine-based production. Started in Great Britain with the invention of steam-powered engines

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41
Q

What was the industrial revolution in short

A

Basically, we went from making things by hand to making things by machines in a partciular place in mass amounts

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42
Q

Why were factories important in a social point of view

A

Factories provided more jobs which resulted in economic growth and mass production of goods. Mass production meant more trade and more jobs meant a new working class emerged. This also allowed for more, better quality products to be produced which helped a country’s trade and GDP

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43
Q

What all feilds were impacted by the indutrial revolution

A

Textile
Communication
Transportation
Art
Economics
Agriculturw

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44
Q

Innovations in transportation

A

introduction of steam-powered locomotives and a never-ending railway industry.

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45
Q

Innovations in textile

A

Introduction of power loom (Edward Cartwright) and spinning jenny (James Hargreaves)

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46
Q

Innovations in communication

A

Inevntion of the telegraph by Sir Francis Ronald

Innovations of the morse code by Samuel Morse

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47
Q

How IR changed our daily lives?

A

The Industrial Revolution transformed daily life by introducing machinery, urbanization, and new production methods, leading to increased efficiency. Many big modern countries like the USA are a result of industrialisation.

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48
Q

Why was Britain a pioneer in industrialization?

A
  1. abundance of coal deposits
  2. wet coal mines - mines were flooded which led to the discovery of the steam engine
  3. elites interested in business
  4. profits from imperialist countries and slaves from the transatlantic slave trade (trade triangle)
  5. Capatalist economyic system
  6. Great environmental Landscape
  7. Capatalist economic system
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49
Q

Which countries stole Britain’s railroad systems

A

Belgium, Switzerland, France and Germany

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50
Q

Local and global factors which helped Britain to industrialize:

A

local factors: abundant natural resources, great environmental landscape, skilled workforce, and political stability,

global factors: colonial trade, the triangular trade (Atlantic slave trade), and access to diverse raw materials

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51
Q

Industrialization at a global scale: Japan

A

Japan’s industrialisation started with western military men led by Mathews Perry entering the bay of Japan for a show of power and even colonisation

Before Japan’s IR, it was under the Tokugawa Shougante which meant the military was in control.

In fear or colonisation, a civil war broke out between the locals and the government where the locals asked for a change in the government. The locals eventually won and a new emperor was crowned - Emperor Mejji

He brought western ideologies and adapted to their technology. He created a centralised government and brought in changes in the fields of military, textiles, and ship building.

He also increased trade of raw materials for western tech

Made more schools to grow a working class and increased contact with the outside world

Despite facing challenges like high Tariffs and less raw materials, Japan still managed to industrialise and create a distinct economy where the businessmen worked closely with the government.

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52
Q

Industrialization at a global scale: India

A

Pre colonisation, India was a strong independent country and used to own 25% of the world’s industrial output. Thanks to the Mughal Empire.

But all of this changed in mid 19th century, when the textile powerhouse became Britain due to its factories

India’s large textile output had relied on hand-loom technology, but that part of the process was now done by machines in Britain

Industrialisation in Britain caused a collapse in India’s economy as machine-woven textiles were better than hand made ones and British Industrialists made sure that textile tech didn’t reach India. As a result, the indian economy crashed. Millions of laborers lost their jobs and had to grow cotton to survive.

this made India one of the largest exporters of raw cotton rather than finished textile products and the British saw this as an opportunity to colonise India by increasing trade with them and implementing policies which hurt India but helped the british

As a result, of this colonisation, food prices rose and India was hit a series of famines during that time

This was because people wernt able to afford food and the East Indian Company focused on production of cotton rather than food

With colonisation, the British stripped India of its natural resources and did whatever they could to stop India from fully industrializing. However, they still made some advancements such as railways, telegraph but that was for their benefit rather than India’s

After independence, Indian businessmen started to incorporate Western tech into traditional Indian systems. They saw the availability of raw materials and the demand for manufactured goods. They also increased trade which in turn increased India’s trade

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53
Q

What effects did the industrialization of cotton cloth production have on the Indian economy

A

yhe shift of textile production to Britain (due to IR), devastated India’s economy, leading to mass unemployment among weavers and a loss of profit as manufacturing moved abroad. Cheap imported textiles flooded Indian markets, undermining local industries and stabilitu

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54
Q

Effects of de industrilisation in India

A

De-industrialization caused widespread famines, increased taxes, and rising costs of essential goods like rice, worsening economic hardships and weakening India’s independence

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55
Q

What are the political explnations for India’s de industilisation

A

The decline of the Mughal Empire and the influence of European merchants led to political effects, allowing for exploitation of India’s resources by foreign powers like the British East India Company

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56
Q

Why did India suffer so many famines in the 19th century

A

India’s 19th century famines were worsened by British policies prioritizing cash crops over food cultivation, leading to shortages and hunger problems amidst environmental challenges like droughts

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57
Q

Proletariat

A

Wage workers who were engaged in production

Income = Labour power

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58
Q

Bourgeoise

A

Business owners who control the means of production in a capitalist society

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59
Q

Laissez Faire

A

Free economic system with minimal government interaction

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60
Q

Factory life - conditions of workers, women, and children in factories

A

characterized by long working hours, poor working conditions, and exploitation of the poor,

women and children were often subjected to low wages and hazardous environments during the early stages of industrialization.

Led to protests of workers’ rights (labour movement) and labour reforms

Luddites - a secret organisation who used to destroy machinery

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61
Q

Class conflict

A

emerged during the Industrial Revolution as the capitalist class (Bourgeoise) faced tensions with the working class (Proleteriats), leading to labour movements and the pursuit of workers’ rights

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62
Q

Spread of Industrialization

A

Britain tried to keep it secret but traders from different countries came to Britain, learned the techniques and then stole the machines and took them home

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63
Q

Water frame

A

Richard Arkwright 1769

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64
Q

Spinning Jenny

A

James Hargreaves in 1765

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65
Q

Power loom

A

Edward Cartwright 1785

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66
Q

Cotton Gin

A

Eli Whitney 1793

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67
Q

Morse Code

A

Samuel Morse

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68
Q

Telegraph

A

Sir Francis Ronald

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69
Q

Cotton Mill

A

Richard Arkwright 1771

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70
Q

Steam engine

A

Initial design by Thomas Newcomen, later modified by James Watt in 1764

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71
Q

star trek line (which can be used in essay) on communism

A

The aquisition of wealth is no longer the driving force in our lives

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72
Q

famus people describing factory life

A

Charles Dickens - “dark satanic mills”

E P thompson - “a place of sexual license”

73
Q

abolishing childern in factories acts

A

The factory act of 1833 - no child under 9 can work and above can work for max 9 hours

The mines act restrcitied mining work for children under age 10

74
Q

Define Globalisation

A

The exchange of goods, ideas, tech, people and services which led to the interconnection and interdependence between nations.

75
Q

Processes behind globalisation

A

International trade and transaction

76
Q

How and when did globalisation start

A

With trade in the 20th century

77
Q

Globalisation is different from other trades in history because:

A
  1. Technological innovations
  2. International Cooperation
  3. Happened at a much bigger scale
  4. Speed of spread of globalisation (due to advancements in tech)
  5. Easier international and regional communication which was cheap and fast
78
Q

How did interdependence grow between countries?

A

Interdependence grew between countries because they were required to maintain a healthy relationship with other nations for exchange and trade.

79
Q

What is the definition of trade?

A

Act of buying, selling or exchanging goods or services, generally involving money

80
Q

What is outsourcing?

A

Different levels of producrion being distributed to various countries

81
Q

Why does outsourcing happen

A
  1. The host country does not have the required resources
  2. Cheaper labour in the LEDC country
82
Q

what are TNC and its definition?

A

Trans-national corporations. They operate in substantial facilities and does business in more than one country. They dont have a home country. Decentrilised.

83
Q

what are MNCs and their definitions?

A

Multi-National corporations. businesses that control production in multiple countries besides their home country. They have a centralized headquarters but operate on a global scale with assets in multiple countries

84
Q

Which is more common in the daily products we use, TNC or MNC

A

MNCs

85
Q

Example of TNC compamny and example of MNC company

A

TNC = Uber(no fixed hq)

MNC= Apple

86
Q

Which countries would support globalisation?

A

Outsourcing countriy’s government and the countries doing the manufacturing part would support globalisation

87
Q

Which community would be against globalisation?

A

The host country or the outsourcing country’s people would be against globalisation as their people are losing jobs with products being manufactured outside their country.

88
Q

MNCs and TNCs have an impact on LEDCs governance and politics how?

A

Using investments, campaigning, and exploitation of resources to influence governmentand politics, with the potential for both positive (jobs) and negative (corruption, inequality) effects.

89
Q

All countries are dependent on _ for theri prosperity

A

international trade

90
Q

Governance

A

A group of people or a community that is responsible for leading the people beneath them and ensuring their well-being, safety and quality of life.

91
Q

Glocalisation

A

global companies adapt their products, services, and marketing strategies to cater to specific local tastes and preferences. This allows companies to build local acceptance while still retaining their main principles.

92
Q

Example of glocalisation

A

McDonalds adapting to local cuisines with their burgers. Eg - Mc Lobster in Canada is not avaliable in India, same way, Maharaja Mac isnt avaliable in other parts of the world

93
Q

What are the three main policies of countries regarding trade?

A

Free Trade, Fair Trade and Protectionism

94
Q

Free Trade

A

Less tariffs are needed to pay when outside companies trade something with your country. This encourages imports and allows for the relocation of goods and services. Both countries gain profit from this type of trade and Globalisation is also based on the idea of free trade.

95
Q

Why would a country accept free trade?

A

With the idea that it is cheaper and easier to buy rather than make

96
Q

free trade pros and cons

A

cons:
1. local industries can collapse due to lower prices of foreign companies
2. displace jobs and exploit workers in developing countries using lax regulations

pros:
1. consumers have more options to choose from for their needs product/service
2. Consumers get products at lower costs due to high competition.

97
Q

Example of free trade agreements

A

North American Free Trade Agreement (NAFTA)

98
Q

Protectionism

A

This is the opposite of free trade where there are high import tariffs which discourage relocation and restrict international trade. This is because these countries want to be independent and produce everything internally and help grow domestic industries rather than seeking help from others

99
Q

Why would protectionism not work?

A

No country can do well in a particular field without the help of others, especially during this modern era of globalisation.

100
Q

Fair Trade

A

Many producers in LEDCs don’t get the wages they deserve and this is where Fair Trade comes in. It is a worldwide movement which aims to help the producers of LEDCs and help mitigate the negative impacts of globalisation. This is done using the Fair Trade premium and Fair Trade minimum

101
Q

Fair Trade premium

A

A type of fund which uses some of the profit gained to help the laborers. It is given back to the workers in the LEDCs which made the product in the form of investing in welfare programs like developing schools, access to clean water and food, electricity, etc.

102
Q

Fair trade minimum price

A

the lowest price that a buyer must pay a producer for a Fair trade product to become certified

103
Q

Fair Trade tackles the problems of…

A
  1. equal pay
  2. safe working conditions
  3. environmental sustainability
  4. gender equality
  5. community development
104
Q

Fair Trade vs Free Trade

A

Free trade is focused more on economic efficiency and economic growth with little to no trading restrictions.

Fair Trade is more on the social and cultural aspects. It focuses on social justice, and environmental sustainability and promotes marginalised communities and small-scale producers.

105
Q

Foreign Aid

A

Foreign aid refers to the financial, technical, monetary and material assistance provided by one donor country or international organization voluntarily to another recieving country or region.

106
Q

Types of foreign aid

A

Bilateral aid
Multilateral Aid
Humanitarian
Project Aid
Debt Relief

107
Q

Bilateral Aid

A

Bilateral aid involves the direct transfer of resources from one country (donor) to another country (recipient) through government-to-government agreements or partnerships.

108
Q

Humanitarian Aid

A

Humanitarian aid provides emergency assistance to populations affected by natural disasters, conflicts, and humanitarian crises. It includes food aid, medical supplies, shelter, water, sanitation, and other forms of relief assistance.

109
Q

Project Aid

A

Project aid funds specific development projects aimed at addressing targeted areas of need, such as healthcare, education, agriculture, infrastructure development, environmental conservation, and poverty alleviation.

110
Q

Multilateral Aid

A

Multilateral aid involves contributions from international organizations, such as the World Bank, International Monetary Fund (IMF), United Nations (UN), and regional development banks. These organizations use resources from multiple donor countries to fund development projects and initiatives in recipient countries.

111
Q

Debt Relief

A

Debt relief refers to the donor country partially or fully ending all debt owed by the recipient country, in order to strengthen their international relations, influence in the recipient country, etc.

112
Q

Intutions involved in Foreign Aid

A
  1. UN
  2. Redcross
  3. IMF
  4. WHO
  5. World Bank
113
Q

Reasons for foreign aid

A

Moral and Ethical where countries feel obliged to improve QOL in the LEDCs

Economic where the donor country gives its fund to a receiving country and tells them to expand/grow their market in their notation for economic growth

political or self-interest reasons why countries want to establish a good relationship with a nation for trade or make an influence of them for security reasons.

114
Q

Is foreign aid a product of globalisation?

A

Yes, foreign aid is a product of globalization. Globalisation allows for easier flow od goods and servcies which makes foreign aid even more accesible for receveing countries

115
Q

Positive impacts of foreign aid

A
  1. Provides assistance in dire situations for receiving countries and helps empower individuals and communities in the receiving country
  2. Investments in infrastructure, technology, healthcare and agriculture can help, create jobs, and elevate quality of life.
116
Q

Negative impacts of foreign aid

A
  1. Overreliance on aid can hinder local initiatives and lead to unsustainable development.
  2. Improper governance and transparency mechanisms can create opportunities for aid to be mismanaged or diverted from its intended goals.
117
Q

Countries in which foreign aid was beneficial and why

A

After the Korean WarSouth Korea received significant foreign aid from the United States,which helped infrastructure development,education,and industrialization, which helped them grow economically and transform into a devloping nation

118
Q

Countries in which foreign aid didn’t work and why

A

Following the 2010 earthquake, Haiti received billions in foreign aid for reconstruction and development. However, corruption, political instability, and lack of long-term planning hampered progress, leading to criticisms of aid effectiveness.

119
Q

Factors of Production

A

Land
Labour
Capital - money
Entrepruenship - skills required to start a businesss

120
Q

Demand

A

Amount of product that consumers are willing and are able to purchase

121
Q

Scarcity

A

Lack of resources
Demand is greater the resources avaliable

122
Q

Resource allocation is done based on

A

level of scarcity

123
Q

What is a market?

A

A place where consumers and producers meet to exchange goods and services

124
Q

A market functions on

A

demand and supply

125
Q

demand and supply determine the

A

price of the product

126
Q

what is cogs

A

cost of goods sold - determines the price alongside demand and supply

127
Q

free will

A

Consumers decide the product is worth more than its price hence they buy it

128
Q

Law of demand

A

The lower the price of the product the more the demand, downwards on graph

based on buyers perspectiv

129
Q

Law of supply

A

The higher the price the higher the quantity supplied, upwards on graph

based on seller’s perspective

130
Q

Equilibrium Market Price

A

point of the graph of law of demand and supply where both lines intersect, it is the ideal selling price for a product with max supply and max profit

131
Q

Surplus

A

When supply is more than demand because of the price

132
Q

Shortage

A

When demand is more than supply because of the price

133
Q

If the price is more than equilibrium,

A

Surplus

134
Q

If the Price is less than equilibrium

A

Shortage

135
Q

Households give Businesses

A

Labour and captial

136
Q

Businesses give Households

A

goods and services

137
Q

What can change the demand of a product without touching its price

A

Quality
Change in situation
Adv, Campaign, Marketing
Population Demographic
The income situation of common people
Belief, Tradition and Festival
Trend, Style and Influence

138
Q

what can change the supply of a product without touching its price

A

Raw Material/Change in COP (cost of production)
Technology
Natural Condition/ Weather
Taxes/Subsidies

139
Q

Externality

A

a cost or benefit that affects a third party who is not directly involved in the activity and not directly involved in a transaction

140
Q

example of negative externalities

A

a factory dumping smoke into the air. The factory avoids the cost of cleaner production, but residents suffer from respiratory problems. This creates a burden not reflected in the market price

141
Q

example of positive externalities

A

Vaccinations. While you get protection from getting sick, those around you also benefit from reduced risk of infection. This positive impact isn’t captured by the price of an individual vaccination as it impacts lots of people

142
Q

Parts of an economy

A

People (households)
Businesses
Government
Banks

143
Q

3 main questions to ask while production of something?

A
  • What to produce?
  • How to produce?
  • Who will produce?
144
Q

What is an economy

A

Interconnected web between producers and consumers

145
Q

Households decide

A

What to buy from and where to buy from

146
Q

Businesses

A

What to seel and at what price

147
Q

Government

A

Gian profit from tax given by business and households. They use this tax in welfare programs

148
Q

Banks

A

Deal with monetary services

149
Q

Price ceilings

A

Gov sets a maximum price for a good/service in a specific market

150
Q

Price Floors

A

Gov sets a minimum price for a good/service in a specific market

151
Q

Types of economies

A
  1. Traditional
  2. Command
  3. Market
  4. Mixed
152
Q

Tradtional Economy

A

Households are responsible for prodcution of product
Only produce for family and you have full control over allocation of resoruces and prodcution
Eg - Hunter Gatherer Ancestor

153
Q

Command Economy

A

Productionis determnes by the government
It dictates allocation of resources
Eg - Slavery and Feuadalism

154
Q

Why would a command economy not work?

A

Centralised control
Lack of flexibility
Hinder innovation and efficiency
Gets boring (stagnant) over time

155
Q

Market economy

A

Based on consumer and producer’s voice and choice
Price and allocation of resources is determined by supplly and demand

156
Q

Mixed economy

A

Mix of command and market economy
Price is still determine by supply and demand system but with little government intervention for regulation and stability of the economy
Most common type of economy found in the world today

157
Q

why and how do governments intervene in market

A

Governments intervene in markets to address inefficiencies, promote social well-being, and provide public goods. They use regulations, taxes, subsidies, and spending to achieve these goals

158
Q

subsidies

A

a financial benefit or support given to individuals or institutions, usually by the government

159
Q

ROLE OF BANKS IN markets

A

Act as middleman for depositers and borrowers

Provides financial services for economic stability

160
Q

economic development

A

Focuses on a country’s social and welfare position and QOL

161
Q

Injection

A

Investetments (done by banks), gov expenditure, exports

162
Q

Recession

A

Period of economic decline characterised by a decrease in GDP, icone, employment, trade because of drop in consumer demand, decrease levels of investments, financial crisis

163
Q

inflation

A

sustained increase in general price of level or goods and services over time caused due to rising demands for goods exceeding supply

164
Q

economic growth

A

focuses on a country’s GDP and it is output driven

165
Q

development indicators

A

GDP per capita
Literery rate
Poverty rate
Infant mortality rate
Emotional well being and safety
HDI

166
Q

Income

A

The money you earn over a specific period (e.g., monthly salary, yearly wages). It’s a flow of money

167
Q

POVERTY CYCLE

A

Child born into a poor famiky
Disadvantage in terms of opportunities and education
Struggles to get a job and escape poverty
Gives birth to new child
Repeats

168
Q

Rainforests difnations

A

Dense anddiverse forest biomes with high annual rainfall, humitidty and warm temperature

169
Q

Largest rainforest

A

Amazon rainforest

170
Q

Ranforests cover how much % of the earth, and what is one thing special about them

A

6%

even with such little percentage, they are home to over half the species of plants and animas in the world

171
Q

Soil of rainforests

A

Nutrient poor due to rapid decomposition

172
Q

Wildlife of rainforests

A

Extraordinary range of speicies incluing amphibians, reptiles, mamllas and birds

173
Q

Climate of rainforests

A

Tropical climate with high rainfall, high humidity and high temperature

174
Q

Zone of rainforests

A

Found in tropical regions near the equator

175
Q

Vegetation of rainforests

A

Multi layerd forest with an adundance of plants including herbs, ferns, orchids and evergreen trees

176
Q

Importance of rainforests

A

Helps reduce climate change and maintain global temperatre and help in carbon isloation

177
Q

Threats of rainforests

A

Deforestation, logging and increased human activities

178
Q

preseravtion of rainforests

A

Preserve endangered speices
adpat local techniques
reduce humanacitivity
Ecosystem restoration