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8 Cards in this Set
- Front
- Back
- 3rd side (hint)
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What does GDP stand for? |
Gross Domestic Product. |
G____ D_______ P______. |
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What are the three ways we measure the economy? |
Economic Growth, Inflation and unemployment. |
E_______ G_____, I________ and U___________. |
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What is Economic Growth? |
An increase in the amount of goods and services produced per head of the population over a period of time. |
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What is inflation? |
Sustained increase in the general price level of goods and services in an economy over a period of time. |
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How do we measure unemployment? |
The amount of people who are not employed which are able and willing to work. |
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What is the difference between multinational and transnational? |
Multinational has branches and multiple headquarters where as transnational has one main HQ in one country. |
To do with headquarters and office locations |
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Give an example for a multinational company and a transnational company? |
Multinational: unilever Transnational: Vodafone |
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What are the names of the four sectors of the economy, and what does each of them mean? |
Primary; Products from the earth like raw materials and basic foods Secondary; Manufactured, processed and constructed goods Tertiary; Services such as hospitality and retail. Quaternary; Intellectual services such as education, libraries and research. |
1st,2nd,3rd,4th... |
