Words to Know
The selling of a public service, such as electricity delivery or health care, to a private company so that the service is no longer owned by the government.
What is privatization
This measure is described as how well the people in a community or a country live and the number and quality of goods and services they enjoy.
What are 2 measures of Prosperity in a Country?
Answers may vairy
These government grants that keep food prices low because farmers do not need to pass on all their production costs to consumers.
Small but steady changes in average temperatures around the world.
What is global climate change
This measure of Prosperity is a widely used measure of the health of a country’s economy and the prosperity of its people, and can be broken down to a per person total of money.
Wht is GDP
This measure is a widely used of Prosperity and Standard of Living in a country
What is GDP
This type of economy uses includes businesses and individuals who use research, education, new ideas,and information technologies for practical purposes.
What is the Knowledge Economy
Practising stewardship of the environment and resources so that future generations are able to achieve prosperity.
sustainable prosperity
This index/measure of Proesperity was created by the United Nations Development Program to measure quality of life in UN member countries.
What is the Human development Index
These are the the fove factors that contribute to Economic Growth.
What are:
Foreign investment
Privatization
Trade liberalization
Knowledge economy
Outsourcing
Privatization advocates believe that it is an important trade liberalization reform. They say that does these two things for consumers:
What are:
• privatization lowers taxes because the service is no longer paid for by taxpayers
• the competition that results from privatization improves the quality of service and leads to lower prices
Businesses and individuals who use research, education, new ideas, and information technologies for practical purposes.
What is the knowledge economy
The King of Bhutan, created this measure of Prosperity in 1972. The king says that the GNH index is based on Buddhist spiritual values rather than economic growth.
What is the Gross National Happiness Index
The goal of Sustainable Prosperity is to balance Environmental, Social and this third factor that is realted to consumers.
What is economics
Those who oppose privatization say that it makes services more expensive because?
Whats is private companies must make a profit, and the company’s profit is calculated into the cost of the service.
Development that meets people’s needs in the present without compromising the ability of future generations to meet their needs
What is sustainable development
The gross National Happiness Index is not focused on the Standard of Living in a country but more on this measure of the peoples lives in the country.
What is Quality of Life.
In recent years, These two economists ideas of ensuring freedom and prosperity by promoting a market economy that is free of government interference have taken hold among many government leaders, especially in North America and Europe.
Who is Friedrich Hayek’s and Milton Friedman’s
This is the purchase of assets in one country by individuals, institutions, or governments in another country.