the economy: standard of living

Question 1

standard of living

Answer 1

the level of wealth and comfort that people experience

Question 2

lifestyles

Answer 2

the way people live

Question 3

how lifestyles have changed

Answer 3

-physical environments
-social environments
-economic environments

Question 4

types of socities

Answer 4

-self-sufficient societies
-rural society
-modern societies

Question 5

the impact of economic development on

Answer 5

-sustainable growth and development
-unemployment
-productivity

Question 6

sustainability

Answer 6

looks at the business’ ability to use resources over the long term in a responsible manner, while achieving its profit aim.

Question 7

social sustainability

Answer 7

looks at the impact of the business’ operations on the greater community. For this reason it is important that the business focuses on having a positive long-term relationship with the community.

Question 8

environmental sustainability

Answer 8

refers to the responsibility that the business has to assess the impact of its operations on the environment so that it can reduce or eliminate negative consequences.