The Impact of the Trans-Atlantic Slave Trade on Economies: Introduction Flashcards

1
Q
  1. Which regions and countries did slavery affect the economic development of (3)?
A

West Africa, America & Britain.

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2
Q
  1. Explain the difference between** Politics **and **Economics **by giving the definition of each.

There are 5 points to the definition of economics.

A
  • Politics is about power, the role of government and the laws passed by the government.
  • **Economics **is about (1) supply and demand of goods and services, (2) industry, (3) consumer spending, (4) levels of spending and (5) money.
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3
Q
  1. What is the relationship between economic and politics.
A

Economics and politics influence each other.

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4
Q
  1. What kind of impact did slavery have on West Africa?
A

A negative impact.

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5
Q
  1. Define what economic development is.

There are 4 points to this definition.

A
  • Economic development is economic growth.
  • It is the sustainable increase in living standards.
  • It is increased per capital income.
  • It is better healthcare.
  • It is better education.
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6
Q
  1. What 2 key things are needed for economic develipment?
A
  • Positive attitude to life and work.
  • A stable political system.
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