Growing Economics Flashcards
1
Q
Economy defined
A
An economy is the state of a country or region in terms of the production and consumption of goods and services and the supply of money
2
Q
What is economic growth
A
Growing economies start to see changes in employment patterns; working women, migration, the rise of the multi job, home working and the search for a better work-life balance.
3
Q
What does all this growth mean for business?
A
All these new growing and emerging economies have increasing incomes of their citizens
4
Q
What is GDP?
A
• GDP stands for Gross Domestic Product
• The GDP figure for a country shows the sum total of everything they produce as a nation
5
Q
What is HDI?
A
• HDI is the Human Development Index
• This is a statistic which combines; life expectancy, education and income
