Define It
Monetary
having to do with money, has a purchase value
High GDP, high life expectancy
Developed
Cuba and North Korea have what kind of economy?
For double the points: explain what that kind of economy is
Command
Gov controls ALL aspects of business
What is tangible good?
Something you can physically touch, put your hands on
A population __________ shows the __________ of a population
A population PYRAMID shows the STRUCTURE of a population
Cultivate
prepare for farming/growing crops
Mostly an agriculturally based economy
Developing
Name 3 renewable resources that can found just about anywhere in the world
wind
solar/solar
water
trees/plants
crops
livestock (what animals are perceived as food varies around the world)
Trade is the __________ and __________ of goods & __________
Trade is the BUYING and SELLING of goods & SERVICES
What is meant by CRUDE birth or death rate?
Straight forward # of people that died - not dividing into categories
Arable
Livable land, land that you can farm on and cultivate crops
Developing
High birth rate, low life expectancy
What is a transnational company?
A company that exists (has locations) in multiple nations/countries
Name 5 services that can be paid for
Explain brain drain
When the highly educated professionals leave an area to pursue their careers in a different area - usually for better pay and/or quality of life
Offshoring vs Outsourcing
Offshoring = one company, locations in a different country
Outsourcing = Company A hires Company B to perform a task
Mostly a periphery world system
What is Globalization?
Countries across the world being connected by business, trade and communications
International business relations and communication
Name the four economic sectors from highest to lowest
4-Quaternary
3-Tertiary
2-Secondary
1-Primary
Explain naturalization AND which US Constitutional amendment addresses this
how to become a citizen
14th
Define RESOURCES
stock or supply of money, materials and stuff that can be drawn on by a country or organization to function
Semi periphery
What is it? Explain.
World System
mix of Core & Periphery
Have some agricultural but has a lot of secondary & tertiary sector characteristics
Play an important role in world economy, but not as crucial as Core
Sustainable development is an issue across the world. Different countries implement different ways to save our environment and try to preserve it for the future. Define SUSTAINABLE DEVELOPMENT
Sustainable development means creating a world where the needs of the present are met without compromising the ability of future generations to meet their own needs
What is the difference between gross and net
Gross - income before tax
Net - what you take home
Name the last 4 Presidents in order from current to past
Trump, Biden, Trump, Obama