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15 Cards in this Set
- Front
- Back
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Gross domestic products (GDP) |
The the market value of all final goods and services produced in a country in a given time period.r |
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Gross national product (GNP) |
The market value of all final goods and services produced anywhere in the world by the factors of production supplies by the residents of that country in a given period of time. |
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Gender-related Development Index (GDI) |
Compares the level of development of women to men. |
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Human Development Index (HDI) |
A statistic composite indeed of life expectancy, education, and perfect capital income indicators, which are used to rank country into four tiers of human development. |
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Literacy rate |
The ability to read and write, or the ability to use language to read, write, listen and speak. |
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Productivity |
A ratio between the output (revenue, total units of finished goods) volume and the volume of inputs (raw materials, labor, capital assets)
Measure of efficiency |
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Primary sector |
A business activity that obtain raw materials from nature |
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Secondary sector |
The part of the economy that transforms raw materials into manufactured goods |
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Tertiary sector |
Businesses produce services |
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Fair trade |
An organized social movement and market-based approach to empowering developing country products and promoting sustainability. It helps to make sure that people that produce the products in developing countries get fair pay for their work |
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Free trade |
A policy in which governments do not put restrictions to exports and imports. It is the unrestricted sale and purchase of goods and services between nations. |
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The North American Free Trade Agreement (NAFTA) |
An agreement among the US, Canada, And mexico designed to remove tariff barriers between the three countries. |
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Infrastructure |
The basic physical and organizational structures and facilities (buildings, roads, power supplies) needed for the operation of a society or enterprise |
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Economic indicators |
A statistic about the economy. Economic indicators allow analysis of economic performance and predictions of future performance |
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Trickle Down Effect |
the economic proposition that taxes on businesses and the wealthy in society should be reduced as a means to stimulate business investment in the short term and benefit society at large in the long term |
