The U.S. Economy in the 21st Century Flashcards
1
Q
What is the Tertiary or Service Sector?
A
A type of activity that is necessary but does not produce a tangible product.
2
Q
What is High Efficiency Work?
A
Work where someone produces a high amount and quality per hour.
3
Q
What is a Negative Balance of Payments?
A
A situation where you buy more than you sell.
4
Q
What is Recycling?
A
Recycling is the reusing of a material.
5
Q
Workers in high skill jobs have what?
A
High efficiency.
6
Q
If a country has a negative balance of payments ________.
A
Wealth leaves the economy.
