Tyla Ozgen Intro to Asia Blue Class
Terms in this set (25)
an economy in which people make economic decisions based on their customs and habits (i.e. very basic way of life-hunting and/or farming)
economy in which individual consumers and producers make all economic decisions (i.e. Entrepreneurs have the freedom to start their own business)
economy in which the (central) government makes all basic economic decisions (i.e. consumer and producers have no freedom-North Korea)
economy that combines elements of traditional, market, and command economic systems. (ie. Most common economic system in the world)
country's economic growth and quality of life
country with a strong economy and a high quality of life (i.e. U.S.A & Japan)
country with a less-productive (do not produce and sell a lot of goods) economy and a lower quality of life (i.e. Haiti or Ethiopia)
amount of goods and services produced given the amount of resources used (Are countries making the most out of the resources that they have?)
the exchange of goods and services in a market
*A market is a type of industry (ie. Online shopping market or real estate market)
goods and services produced within a country and sold outside the country's borders (goods the EXIT the country).
goods and services sold in a country that are produces in other countries (goods that are brought INTO the country).
a tax on imports and exports (trade barrier). Governments set taxes on imports in order to encourage people to buy goods from their own country because it will be cheaper.
a government policy or restriction that limits international trade
the removal of trade barriers (tariffs). Gives consumers lower prices and more choices. However, if a good is made outside the country for cheaper and there is free trade, more people will buy from there instead of from their own country.
a scientist who studies human populations
number of (live) births per 1,000 people in a year
number of deaths per 1,000 people in a year
Infant Mortality Rate
number of infant deaths per 1,000 births
the spreading of people over an area of land
measure of the number of people per unit of land (How dense is the population in a particularly sized area? Very dense would mean lots of people in a small area. Less dense would mean less people spread out.)
located in cities
settlement in the country
the movement of people from rural areas (the country) to urban areas (cities).
poor, overcrowded urban neighborhoods
the spread of suburbs away from the core
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