Upgrade to remove ads
WG - Unit 6 - Economic
Terms in this set (19)
GDP (Gross Domestic Product)
the total market value of all final goods and services produced within a country's borders in one year
GNP (Gross National Product)
the total value of goods produced and services provided by a country during one year, equal to the gross domestic product plus the net income from foreign investments.
the process by which businesses or other organizations develop international influence or start operating on an international scale.
The exact location of a place
the location of a place relative to other places
A process of converting an urban neighborhood from a predominantly low-income renter-occupied area to a predominantly middle-class owner-occupied area.
the uncontrolled expansion of urban areas.
to bring a product into a country to be sold
A good or service produced in the home country and sold in another country.
The percentage of a country's people who can read and write.
standard of living
the degree of wealth and material comfort available to a person or community.
GDP per capita
Gross domestic product divided by the number of people in the population (asses standard of living of a country's people)
The portion of the economy concerned with the direct extraction of materials from Earth's surface, generally through agriculture, although sometimes by mining, fishing, and forestry.
The portion of the economy concerned with manufacturing useful products through processing, transforming, and assembling raw materials.
The portion of the economy concerned with transportation, communications, and utilities, sometimes extended to the provision of all goods and services to people in exchange for payment.
a group of countries that work together to promote trade with one another
A limit placed on the quantities of a product that can be imported
an official ban on trade or other commercial activity with a particular country.
A tax on imported goods
THIS SET IS OFTEN IN FOLDERS WITH...
WG - Unit 1 - Intro
WG - Unit 2 - Culture
WG - Unit 4 - Population
WG - Unit 3 - Political
OTHER SETS BY THIS CREATOR
WG - Unit 5 - Environmental
ECON- Unit 4 Economic Indicators & Fisca…
ECON - Unit 2 Business Organization and…
Everfi - Personal Finance Vocabulary