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Flashcards - The Economy & Geography

Flashcards - The Economy & Geography
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tariffs
A tariff is a tax on imports or exports
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market share
Market share is the percentage of a market accounted for by a specific entity
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Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
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natural resources
Natural resources are resources that exist without actions of humankind
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Industrial Revolution
The Industrial Revolution was the transition to new manufacturing processes in the period from about 1760 to sometime between 1820 and 1840
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investment
To invest is to allocate money in the expectation of some benefit in the future
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gross domestic product
Gross domestic product is a monetary measure of the market value of all final goods and services produced in a period
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Exports
The term export means shipping in the goods and services out of the jurisdiction of a country
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Exports
The term export means shipping in the goods and services out of the jurisdiction of a country
gross domestic product
Gross domestic product is a monetary measure of the market value of all final goods and services produced in a period
investment
To invest is to allocate money in the expectation of some benefit in the future
Industrial Revolution
The Industrial Revolution was the transition to new manufacturing processes in the period from about 1760 to sometime between 1820 and 1840
natural resources
Natural resources are resources that exist without actions of humankind
Fiscal policy
In economics and political science, fiscal policy is the use of government revenue collection and expenditure to influence the economy
market share
Market share is the percentage of a market accounted for by a specific entity
tariffs
A tariff is a tax on imports or exports
Research and development
Research and development , also known in Europe as research and technical development , is a general term for activities in connection with corporate or governmental innovation
Standard of living
Standard of living refers to the level of wealth, comfort, material goods and necessities available to a certain socioeconomic class in a certain geographic area
market system
A market system is any systematic process enabling many market players to bid and ask: helping bidders and sellers interact and make deals
Labor productivity
Workforce productivity is the amount of goods and services that a worker produces in a given amount of time
trade agreement
A trade agreement is a wide ranging tax, tariff and trade treaty that often includes investment guarantees
World Trade Organization
The World Trade Organization is an intergovernmental organization which regulates international trade
importing
An import is a good brought into a jurisdiction, especially across a national border, from an external source
Economic development
Economic development is the process by which a nation improves the economic, political, and social well-being of its people
productivity
Productivity is an average measure of the efficiency of production

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