Trade Flashcards
Development
process in which social , economic and environmental inputs are used to improve peoples lives.
Gross Domestic Product
The total value of goods and services provided in a country in one year
GDP per capita
taking the GDP and dividing it by the number of people in a country
What is HDI
Human Development Index
What is colonialism?
A policy or practice of taking full political control of another country
Welfare
Financial or other aid provided to people in need
trade deficit
the value of a countrys imports are higher than its exports
Multi national company
A company that owns or controls the production of its goods or services in one country other than its own
What is trade?
A transaction where there is an exchange of goods
Beneficiation
Changing a primary product (raw material) into a more finished product.
