Govt. & Eco Flashcards
What is the United Nations?
An international organization who’s goal is cooperation In international law, international security, economic development, human rights, social progress, and world peace.
What is the European Union?
A political and economic union of many European unions, with a central and commerce economic system (the euro), a primary purpose is to form as a economic power with competiton with the USA, Japan, China.
What is Traditional economy?
Good save traded without exchanging money.
What is command economy?
Communism. Production is determined by a central government.
What is market economy?
Free enterprise production is determined by the demand from consumers.
What is mixed economy?
Socialism mix of command and market economies.
What is primary?
Raw materials ex. Timber, substience farming.
What is secondary?
Materials by changing their form ex. Steel to cars and Cottage Industries
What is tertiary?
Business or professional services ex. Wal-Mart, Chilli’s, Dr. Office, Copyshop
What is quarternary?
Provide information, management education, government research.
What is gross domestic product?
The total value of goods and services produced in a year.
What is per capita GDP?
GDP divided by the total population.
What is Human Development Index?
Measures poverty, literacy,education,life-expectancy, and other factors.
What is literacy?
The ability to read and write.
What is life-expectancy?
The average length of life.
