Global Community Flashcards
Economic growth
This happens when the country produces more goods and services from year to year
Sustainable development
Living now in a way that doesn’t damage the need if future generations
Local agenda 21
A global plan to ask local people how they think their immediate environment could be improved
Private sector
This is part if the economy made up of organisations that are owned by individuals
Public sector
This is the part of the economy that us made up of organisations that are run or owned by the government of council
Shareholder
Someone who owns part of a business by owning shares in the company
Interdependent
In this context where businesses organisations or countries need each other in order to survive and flourish
Deflation
The general fall in prices
Inflation
The general rise in prices
Interest
Extra payment made to a lender by someone who had borrowed money
Budget
The process each year when the chancellor if the exchequer explains how the government will raise
And spends its money
Chancellor of the exchequer
The member of the government who is responsible for the countries finances
Single currency
This is the use of one consistent currency among many countries for example the euro in Europe
Commonwealth of nations
A voluntary group of independent countries
Globalisation
The increasing interdependence if the world
