World Shipping Unit Test
a resource that cannot be replaced: like oil or coal
Any natural resource that can be replenished naturally: like solar, wind, or hydro energy
A figure indicating how long, on average, a person may be expected to live. Indicates quality of healthcare.
Shows the percentage of people in a country who can read and write at an elementary school level. Indicates the quality of education.
per capita GDP
an estimate of the average wealth of a person in that country
a condition in which countries have strong economic ties and depend on each other for resources, technology , trade, and investment
the flow of goods or services across national borders, with little or no government control
the development of a global, or worldwide, society in which people, money, information, and goods flow fairly freely across national borders
a large business that operates in more than one country
A tax on imported goods
to bring goods into a country to be sold
to send goods to another country for sale
a country with a modern industrial society and a well-developed economy
Nations that are economically and technologically disadvantaged
a shop or factory where workers work long hours at low wages under unhealthy or dangerous conditions
an economic system in which businesses are privately owned and operated; the free market determines the values of goods and services
Freedom, opportunity, ability to move social classes, lower taxes
Failure happens, wealth is not equal, individuals have to provide for themselves
an economic system where the government owns the businesses and land, they also determine the cost of goods and services
No social classes, government provides for people (healthcare, education, employment), no individual failure
Lack of freedom, lack of motivation, lack of choice
supply and demand
the price of a good rises and falls depending on how many people want it and depending on how much of the good is available
standard of living
quality of life based on ownership of necessities and luxuries that make life easier.
investment by a person or company based in another country
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