Modules Flashcards
What is inequality of income?
some people have large income while others have small income.
What is inequality of oppertunity?
some people have opportunities that others do not have.
What is the poverty line?
the minimum income to reach a persons basic needs.
What is the poverty cycle?
the circle of events that keep people poor.
What is the meaning of urban?
built up areas such as cities and towns.
What are challenges?
problems that need to be overcome.
What did the RDP programme aim to do.
rebuild and develop a strong south african economy.
rebuild and develop an equal democratic south african society.
develop all peoples education and skills and provide increased employment for all people
satisfy basic needs of all people.
What is the meaning of sustainable?
capable of being maintained and continued.
What is production?
the process of creating the final product.
What are resources?
things we use to help us do something.
What is economic growth?
When a countries economy gets bigger and stronger.
What is productivity?
compares to the outputs of the production process and the input used to produce those outputs.
How can the natural resource land be used more productively?
less land could be used to plant trees this could be achieved by planting trees that grow quickly and by using water efficently.
What does it mean to automate?
make a system automatic so that the machine does the work.
What are savings?
money put aside to save up for something.
What is a merchant?
somebody who buys and sells goods.
What is the renaissance?
the period in european history from about the fourteenth to sixteenth centuries.
What is the meaning of competitive?
as good as or slightly better because of good value or having more worth.
What is imperial?
involving or relating to the authority of a country over colonies or other countries.
What are assets?
the items that make up the total value of a organization.
What is money laundering?
the process of concealing the source of legally , illegally and gray area obtained money.
What is a budget?
a road map to show future income and expenses.
What is a restriction?
something that limits or controls something else.
What is expenditure?
the amount of money spent on expenses and buying assets for the business.
What is revenue?
money that comes into the business from the sale of goods or services.
What is the meaning of accessible?
easy to enter or reach or easy to access.
What is transparency?
clear and simple, east to understand or follow.
What is accountability?
being responsible for someone or something.
What is a surplus?
the amount of money left after all liabilities are met.
What is a deficit?
the amount by which expenditure exceeds income or budget.
What is an audit?
a formal examination, correction and official endorsing of financial accounts.
What does it mean to analyse?
to examine something in great detail in order to understand it better or learn more about it.
What does it mean to accumulate?
to collect or obtain large amounts of something over time.
What is an entrepreneur?
someone who starts a business and works for themselves.
What are characteristics?
specific qualities a person has.
What is the meaning of viable?
something that has potential to be successful.
What is demmand?
how much consumers are able and willing to buy.
What is the public sector?
part of the economy made up of government and government owned businesses.
What does it mean to specialise?
to focus on producing one type of product.
