Econ Review 4

Acumen Fund

• EST. Yale Uni to support companies doing social capitalism. Recruits 12 to 16 individually

• Solar powered light company

• Giving small interest free loan to the poor

Social Capitalism

• Helping the poor by selling them a good or service that will improve their lives

• Wealthy nations give money to underdeveloped nations

• The study of how a nations total income is divided among its citizens

Microdrip Irrigation

• A tube irrigation system that keeps water from evaporating

• Production, prices and income are controlled by Gov't

• Govt controls almost all businesses

d.Light

• Solar powered light company

• Peoples income changes over time

• The state of being extremly poor

Ecotact

• Builds and maintains clean toilets

• Wide variety of wealth

• Production resource allocation

Extreme poverty

• Earning $1.25 or less a day/ 1.1 billion people

• A set of principles that explain how the economy works

• Father of economics

Iko-Toilet

• There is (8c use)

• Microdrip irrigation system

• Least amount of govt control

Capitalism

• A system where trade and production are controlled by the private sector for profitc

• A system where production and distribution is controlled by society as a whole

• Production, prices and incomes are controlled by Gov't

Socialism

• A system where trade and production are controlled by the private sector for profitc

• A system where production and distribution is controlled by society as a whole

• Production, prices and incomes are controlled by Gov't

Command Economy

• A system where trade and production are controlled by the private sector for profitc

• A system where production and distribution is controlled by society as a whole

• Production, prices and incomes are controlled by Gov't