Past Quiz Questions Flashcards
What is the scale that most politicians talk at?
national
How have middle class families been able to keep their status even with falling wages?
women going into the workforce
people working longer hours
taking out more loans that they cannot afford
What does PPP do to GNI PPP?
adjusts for value of currency of a country
pulls together items from each country that are similar in other countries to figure out value of that currency
What does poverty look like in different countries in terms of mental attitude?
Ethiopia coffee farmers believe making 50 cents per day is enough to have enough
happiness not dictated by wealth or stuff (poorest people are sometimes the happiest if they have basic needs met)
Modernization theory
areas bring themselves out of poverty from traditional to modern through technologies, language, and urban design
Why did Lehman Brothers and AIG collapse and the global recession happen?
housing bubble crisis
people given loans when they couldn’t pay them back and then those loans were packaged into CDOs and sold with high scores to 3rd party investors when they were really bad packages
What are the 3 functions of money?
- universal symbol for value
- holds value
- can trade for goods/services
What are 5 stages of materials economy from Story of Stuff?
Extraction Production Distribution Consumption Disposal
What treaty established Maquiladoras?
NAFTA
Contemporary example of vertical integration
Target creating their own products to manufacture, distribute, and is retail location
Which region will be home to the most middle class in 2030?
Asia Pacific region
How does place get into goods?
way that they are designed, materials available in the area and used, people who make them have different styles of work
Who are bottom of the pyramid consumers and how should companies reach them?
people who do not make a lot of money or have access to a lot of goods
market low cost products that replace products that other consumers are able to buy like the Taata car in India
