Economics Key Terms 5.5

1. where firms act with a moral sense of responsibility towards their stakeholders (9, 11)
4. an organisation that provides loans to LEDCs. It is based in Washington in the USA (5, 4)
5. the exchange of goods and services between countries where there are no restrictions (4, 5)
6. a physical limit to the amount of goods and services that can be imported into a country (5)
7. a tax which is imposed on goods and services which have been imported from abroad and which has the effect of increasing the price (6)
9. organisations that aim to produce a surplus of income over expenses to promote a good cause (9)

2. An NGO which aims to improve living standards in LEDCs by paying higher prices for agricultural produce (9)
3. where a person cannot afford the basics of life such as food, shelter and clothes (8, 7)
4. the system of state benefits and free government services paid for through taxation. Its aim is to reduce inequality between different groups of people in the UK (7, 5)
10. a sum of money which is owed by the government of an LEDC to richer developed nations or organisations such as the World Bank (13, 4)

Get Revising