Global Wealth
Countries that have a skilled and educated _______________________ are usually wealthier.
workforce
What is an economy where the government controls the resources and goods and services of the country called?
Command Economy
_______________________ occurs when all people are treated the same way, regardless of their individual differences.
Equality
_______________________ products ensure that the workers in developing countries that produce the products get a fair price for the products that they harvest or produce.
Fairtrade
What is the total GDP for the country divided by the population of the country called?
Gross Domestic Product Per Capita
What type of ecomony does Canada have?
A Mixed Economy
Life expectancy, knowledge, and a country’s income combine to create a number called the ______________________________________
Human Development Index
What is the process of increasing connections and trade relationships around the world called?
Globalization
What is is the total value produced in a country over a year?
Gross Domestic Product
What is this type of economy called?
EXAMPLE: Indigenous Inuit communities in these arctic regions heavily rely on customary practices, such as subsistence hunting, gathering, and crafting.
Traditional Economy
Globally, quality of life, life expectancy, and _______________________ are increasing (or improving), while gender inequality, _______________________ _______________________, and the rural-urban gap are continuing.
wealth; environmental impacts
(100) Who does fairtrade benefit?
(200) How does it benefit them?
a) Who does Fairtrade benefit?
Farmers and Farm Workers
b) How does it benefit them?
They are compensated fairly for their labour. They can invest that money into farming to sustainably, better infrastructure, education, new technology, and other investments that strengthen communities.
The GDP of Genovia is 8, 404, 667, 987 US dollars and the population of Genovia is 280 906 people.
Calculate its GDP Per Capita.
GDP per capita = 8, 404, 667, 987 / 8 906
= 29 919.86 US dollars per person
What is this type of economy called?
The UK blends a free-market capitalist system with extensive government programs.
Mixed Economy
In your opinion, what are the two most important indicators of quality of life? Explain why.
Teacher Discretion
Describe 2 negative environmental impacts of global trade.
when goods are harvested or produced a great distance from where they are consumed, environmental damage occurs from the transportation
when there are few or no government regulations on industries in developing countries, environmental damage can occur