Sustainable Economics Vocabulary and Key Concepts

When SUPPLY is low and DEMAND is high, the price will be at its (a)  

How you are supposed to behave according to society's morals and values. In our study, we are focused on acting in a way that does not harm people or the environment. (a)  

• sustainability
• ethics
• doing what's right
• self-interest

Answer explanation

ethics is correct!

derivatives of ethics are:

ethical

unethical

ethicality

An organisation of labourers (workers, employees) that negotiates with management for better working conditions.

(a)  

Answer explanation

A union. The example shared in class was how Starbucks labourers in the USA are looking to form a union.

"It used to be that you just walked into a shop and bought something without sparing a thought for where it came from, or who'd made it..."

• Extraction

• Production

• Distribution

• Consumption

• Disposal

How you are supposed to behave according to society's morals and values. In our study we are focused on acting in a way that does not harm people or the environment.

• ethics
• profit
• unethical
• extraction

An economic system in which each person is free to invest, own property, and operate a business.

• capitalism
• Corporation
• consumer
• extraction

economics: the putting together of products that are going to be sold

• production
• boycott
• branding
• union

In an economy, this is the person who buys products and services.

• consumer
• stocks
• union
• fraud

Designing a product so that it will fail after a certain period of time and need to be replaced.

• planned obsolescence
• revenue
• union
• shareholder

The consumer has the perception that a product needs to be replaced.

• perceived obsolescence
• Corporation
• revenue
• consumer