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Unit 3 Government

TermDefinition
European Union A political and economic union of many European countries.With a central bank and common economic system (the euro),a primary purpose is to form a single economic power to compete with us,Japan,China,etc.
United nation An international orginization whose aim is cooperation in international law,international security ,economic development , human rights , social progress and achieving world peace
Traditional economy Goods are traded without exchanging money
Command economy Communism,Production is determined by a central government
Market economy Free enterprise production is determined by the demand from consumers
Mixed economy Socialism,Mix of command and market economies
Primary Raw materials ex,timber,substeince farming
Secondary Materials by changing their form ex,steel cars to cottage industries
Tertiary Business or professional services ex-Walmart chills copy shop
Quaternary Provide information,management education,government,research
Gross Domestic product (GDP) The total value of goods and services produced Ina a country in a year
Per capita GPD GPD Divided by the total population
Human development index (HDI) Measures poverty, literacy, education,life expectancy ,and other factors
Literacy The ability to read and write
Life expectancy Average expected length of life
Infant
Infant mortality rate Number of deaths during the first year of life per year of life per thousand live births
Less developed Low GPD and typically and low HDI literacy income and life expectancy
Newly developed Rising GPD and HDI literacy , income and life expectancy
More developed High GPD and HDI literacy,income and life expectancy
Created by: XC_ALEX