Poverty
What is absolute poverty? Name 2 out of 4 basic needs...
not having enough resources to meet basic physical needs such as food, water, shelter and clothing.
What is land as a factor of production?
natural resources used in production, such as soil, forests, minerals, rivers and physical space.
(everything that is on the sufrace, below the surface and soil...)
What are the forms of raising capital in the company (you need to list min 2 forms)
Loan, shares, bonds
Name one cause of gender pay gap...
- part time work of women
- career choices influenced by family responsibilities
- More women in low-paying sectors
- Fewer and lower-paid female managers
Give example of a public good...
public lightning, public beaches, roads, flood barriers, national defense
How to compare poverty across countries?
poverty line
Why is land considered fixed in supply?
Because the total amount of land cannot easily be increased.
The financial tool that enables you to own a part of the company is called?
a share
Who are suppliers of labour?
People
What are the features of a public good in terms of excludability and rivalry?
Non-rival, non-excludable
Name one example of a safety net of Slovak republic offered to mothers.
parental leave, maternity leave, child allowance,
What is the price for land called in Economics?
price for RENT, Interest rate
A place where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments is called?
Stock exchange
What is the difference between salary and wage?
Salaries = fixed amount of money that is paid to an employee regardless of the number of hours worked each week,
wages typically paid for the number of hours worked in a given week.
When individuals take on more risks because they do not bear the full consequences of their actions....we call it
Moral hazard
The severe material and social deprivation rate is defined as the share of the population unable to afford 7 or more of these 13 items. Name 5 of them.
If we want to invest into land - what should be taken into consideration ( recall the formula) - (1 variable is enough)
price for RENT, Interest rate
no right to participate in the company's profits but a right to payment of the fixed interest over time is secured by the financial instrument called...
Debentures
What three things need to be present when we talk about employment discrimination?
different salaries between employees who hold
similar job,
similar educational attainment, and
similar expertise
when one party in a transaction has better information than the other, leading to bad outcomes....it is called
Adverse selection
What is AROPE? What 3 subtypes does it contain?
At risk of poverty or social exclusion
-“at risk of poverty”
- severe material deprivation
- very low work intensity
What does acronym NIMBY stands for?
(an acronym for "Not In My Back Yard") is a pejorative term used to describe residents who oppose new real estate developments or infrastructure projects in their local area
Who has prior claim on company assets? Who is paid first? Share holders or Debenture holders?
Debenture holders
When a factory is the only employer of certain types of labour in that district we call it
monopsony
What do we call the BAD used cars on the market?
Lemons