People, work & development Flashcards
Work
Any occupation, paid/unpaid, formal or informal
Employment
Regular trade or profession, in exchange for money
Unemployment
Lack of paid work
Underemployment
Insufficient paid work for an individual during a day or week
Employment opportunities
Jobs that people, often employment, can apply for
Automation/mechanisation
The replacement of people (workers) by computers/machines
Grants/subsidies
Government capital to encourage economic activity
Tariffs
Custom duty (tax) charged on foreign imports
Quotas
A limit n the number of goods that can be traded. Often applied to the number of imports of a certain good.
Labour
The work force of an area
Market
The location of the people to whom goods produced are sold
Infrastructure
the built environment (e.g. roads, power supplies) that support the industrial economy
Capital
wealth created from economic activity, usually ‘money’, but also stocks, shares, buildings and machines.
Costs
expense ‘incurred’ in setting up or running an economic activity
Imports/exports
goods brought into/sent out of one country from/to another
Public/private investment
money that is out into a development, for later profits, from council or government/private individuals or businesses
Linkages
connections between different components in an economic system
Rationalism
process of recognition, in an industry, to achieve greater efficiency, usually involving cutbacks of workers.
Employment structure
classification of jobs:primary, secondary, tertiary
Primary sector
industry involved in the extraction/exploitation of natural resources (eg.mining, fishing)
Secondary sector
industry involved in the manufacture of goods from raw materials
Tertiary sector
industry involved in the sale of the manufactured goods or provision if services (eg,. Shopping, transport)
Quaternary sector
industry involved in the provision of information
Formal work
properly regulated work (eg. Factory employment)
