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ICT
Technology, E-commerce, E-business, GNP, GDP, International Trade
| Question | Answer |
|---|---|
| What is GDP (Gross Domestic Product) | GDP is the total value of all goods and services produced inside a country in one year. |
| What does GDP measure | GDP measures the value of production within a country's borders. |
| What is GNP (Gross National Product) | GNP is the total value of goods and services produced by a country's citizens, including those abroad. |
| What is the difference between GDP and GNP | GDP measures production inside a country while GNP measures production by a country's citizens including overseas activities. |
| What is Per Capita Income | Per Capita Income is GDP divided by the population to find the average income per person. |
| How is Per Capita Income calculated | Per Capita Income is calculated by dividing GDP by the population. |
| If Jamaica's GDP is $2 trillion and the population is 3 million what is the per capita income | The per capita income is about $667,000 per person per year. |
| Why do countries trade internationally | Countries trade internationally because no single country has all the resources it needs. |
| Why can some goods not be produced locally | Some goods cannot be produced locally in sufficient quantity. |
| How do climate differences affect trade | Climate differences affect trade because some countries cannot grow or produce certain goods. |
| Why does Jamaica import wheat | Jamaica imports wheat because its climate is not suitable for growing wheat. |
| What is Foreign Direct Investment (FDI) | Foreign Direct Investment is when foreign businesses invest money in another country to create businesses and jobs. |
| What is CARICOM | CARICOM is the Caribbean Community that promotes regional co-operation and trade. |
| What is the purpose of CARICOM | The purpose of CARICOM is to encourage regional co-operation and trade among Caribbean countries. |
| What is CSME | CSME is the CARICOM Single Market and Economy that allows free movement of goods, services, and people within CARICOM countries. |
| What does CSME allow | CSME allows the free movement of goods, services, and people within CARICOM. |
| What is the Caribbean Development Bank (CDB) | The Caribbean Development Bank is an institution that lends money to Caribbean countries for development projects. |
| What is the role of the Caribbean Development Bank | The Caribbean Development Bank provides loans for development projects in Caribbean countries. |
| What is the World Bank or IBRD | The World Bank or IBRD is an institution that lends money to developing countries for economic development. |
| What is the role of the IMF (International Monetary Fund) | The IMF provides short-term loans to countries with balance of payment problems. |
| What is the WTO (World Trade Organisation) | The WTO is an organisation that sets global rules for international trade. |
| What is the role of the WTO | The WTO regulates and sets rules for international trade. |
| What is the OAS (Organisation of American States) | The OAS is an organisation that promotes democracy and co-operation in the Americas. |
| What are major economic problems in the Caribbean | Major economic problems in the Caribbean include high unemployment, high national debt, migration, lack of capital and raw materials, and economic dualism. |
| What is unemployment | Unemployment is the condition where people who are willing and able to work cannot find jobs. |
| What is national debt burden | National debt burden is the large amount of money owed by a country. |
| What is migration | Migration is the movement of people from one country to another. |
| What is brain drain | Brain drain is the migration of skilled people to other countries for better opportunities. |
| Why is brain drain a problem in the Caribbean | Brain drain reduces the number of skilled workers available in Caribbean countries. |
| What is economic dualism | Economic dualism is when one sector of the economy is modern and advanced while another sector is backward and traditional. |
| What is foreign investment | Foreign investment is money invested in one country by businesses or individuals from another country. |
| What is direct investment | Direct investment is when a foreign company opens a factory, office, or business in another country. |
| Give an example of direct investment | A US hotel chain building a resort in Jamaica is an example of direct investment. |
| What is indirect investment | Indirect investment is buying shares or bonds in another country's companies. |
| What are the benefits of foreign investment | Foreign investment creates jobs, brings new technology, earns foreign exchange, and develops infrastructure. |
| What are the negatives of foreign investment | Profits may leave the country, local workers may be exploited, and local businesses may be displaced. |
| How can the Caribbean solve economic problems | The Caribbean can solve economic problems by attracting FDI, investing in education and training, developing manufacturing and exports, and using technology. |
| Why is human resource development important | Human resource development is important because education and training improve workers' skills and productivity. |
| Why should Caribbean countries develop manufacturing and exports | Developing manufacturing and exports helps increase economic growth and foreign exchange earnings. |
| How can technology help the Caribbean economy | Technology can generate new economic activity and improve productivity. |
| What is Business Technology | Business Technology is the application of science, data, engineering, and information for business purposes to make production faster, communication easier, and records more accurate. |
| What is ICT | ICT stands for Information and Communication Technology. |
| What does ICT involve | ICT involves storing, retrieving, sending, and processing digital information. |
| What are ATMs or ABMs | ATMs or ABMs are machines that allow people to withdraw or deposit cash without visiting a bank teller. |
| What is Online Banking | Online Banking allows customers to check balances, pay bills, and transfer money from home. |
| What is E-Commerce | E-Commerce is the buying and selling of products over the internet without a physical store. |
| What are traditional productivity tools | Traditional productivity tools are software used for writing, spreadsheets, databases, presentations, and graphics. |
| What is Microsoft Word used for | Microsoft Word is used for writing documents. |
| What is Microsoft Excel used for | Microsoft Excel is used for spreadsheets and calculations. |
| What is Microsoft Access used for | Microsoft Access is used for creating and managing databases. |
| What is Microsoft PowerPoint used for | Microsoft PowerPoint is used for creating presentations. |
| What is Adobe Photoshop used for | Adobe Photoshop is used for graphics and image editing. |
| What are specialist applications | Specialist applications are software programs designed for specific business tasks. |
| What is QuickBooks | QuickBooks is an accounting software used by businesses. |
| What is CAD | CAD stands for Computer-Aided Design and is used in engineering and design work. |
| What are Management Information Systems | Management Information Systems are systems used to collect and manage business information for decision-making. |
| What are examples of digital communication | Examples of digital communication are the internet, mobile phones, email, and social media. |
| What is E-Commerce | E-Commerce is buying and selling products and services online. |
| What is E-Business | E-Business is running the entire business electronically, including internal operations. |
| What is the difference between E-Commerce and E-Business | E-Commerce focuses on online buying and selling while E-Business includes all electronic business operations such as HR, finance, and inventory management. |
| What activities are included in E-Commerce | E-Commerce includes sales, marketing, order-taking, and delivery. |
| What activities are included in E-Business | E-Business includes e-commerce plus production, HR, inventory, and finance. |
| What is an example of E-Commerce | Amazon's online shop is an example of E-Commerce. |
| What is an example of E-Business | Amazon's warehouses, HR systems, analytics, and customer data systems are examples of E-Business. |
| What are the benefits of technology to business | Technology helps businesses reach more customers, reduce costs, improve efficiency, speed up operations, improve customer service, and share information easily. |
| How does technology help businesses reach customers | Technology allows businesses to reach customers worldwide through the internet. |
| How does technology reduce costs | Technology reduces costs by improving efficiency and automation. |
| How does technology speed up operations | Technology speeds up operations through automation and faster communication. |
| How does technology improve customer service | Technology improves customer service by providing faster responses and easier access to information. |
| Why is information sharing easier with technology | Technology allows information to be shared quickly through digital communication systems. |
| What are ethical issues with ICT | Ethical issues with ICT include security, privacy, intellectual property infringement, and distraction. |
| What is security in ICT | Security in ICT refers to protection against hacking and data breaches. |
| What is privacy in ICT | Privacy in ICT refers to protecting personal information from being collected or used without consent. |
| What is intellectual property infringement | Intellectual property infringement is illegally copying or pirating music, movies, software, or other creations. |
| What is distraction in ICT | Distraction in ICT is when employees waste time using social media or other non-work activities. |
| What is Standard of Living (SOL) | Standard of Living refers to material wealth such as income, goods owned, and access to technology. |
| What is Quality of Life (QOL) | Quality of Life refers to overall wellbeing including health, safety, education, and a clean environment. |
| How is Standard of Living measured | Standard of Living is measured by average disposable income. |
| How is Quality of Life measured | Quality of Life is measured by factors such as life expectancy, crime rates, and infant mortality. |
| What is the difference between Standard of Living and Quality of Life | Standard of Living focuses on material wealth while Quality of Life focuses on overall wellbeing. |
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