Standard of living Flashcards
What does Lifestyle mean?
Lifestyle means the way a person lives.
What is the impact of development on the environment?
Increased technology, growing populations, and urbanisation.
What is sustainability?
The ability to maintain a certain rate or growth.
What resources should we use?
We should use finite resources.
How many environmental principles are there?
There are three environmental principles.
What are the environmental principles?
-Supporting a precautionary approach to environmental challenges.
-Undertaking initiatives to promote greater environmental awareness.
-Encouraging the development and use of environmentally friendly technology.
What is a self-sufficient society?
These are independent societies that look after themselves in order to survive
What are some examples of self-sufficient society?
Food production through agriculture.
Food through livestock.
Energy Generation.
What is a modern society?
The lifestyle of a modern society is dominated by technology.
What is a rural society?
the basic comforts of modern society are always in rural society.
What is inflation?
A general increase in prices.
How to measure inflation?
They use a CPI
What are the types of markets?
Goods and Services
Factor Market
Labour Market
Financial Market
What is a financial market?
These are markets that trade financial assets.
What is a goods and services market?
Goods and services are exchanged for money.
What is the factor market?
This is the market in which factors of production are used to produce goods and services.
What is the labour market used for?
Labour markets are used between potential sellers and potential buyers.
What is a market?
The market is where good and services are sold in the economic cycle.
