Final Flashcard - General Economics - Unit IV

Front

What is economic growth primarily measured by?

Back

Gross Domestic Product (GDP)

Front

Which country is given as an example of using 54% renewable energy for sustainability?

Back

Sweden

Front

What is the definition of a classless society?

Back

A society without hierarchical class distinctions.

Front

What does 'innovation' combine according to the memorization tip?

Back

Invention + Improvement

Front

What is the definition of "Fair Wages"?

Back

Compensation that ensures workers can meet their basic living needs and reflects the value of their labor.

Front

Which term describes an economic model that emphasizes equitable resource distribution and democratic decision-making?

Back

Participatory Economy

Front

What is "Mutual Aid"?

Back

A system of voluntary cooperation where resources and services are exchanged for mutual benefit.

Front

What does "Social Cohesion" refer to?

Back

The sense of trust, belonging, and shared values that bind members of a society together.

Front

What is the role of "Ownership Equity"?

Back

Fair distribution of ownership rights and benefits among all stakeholders.

Front

What is the focus of Assets-Based Community Development (ABCD)?

Back

Mobilizing existing community strengths