Economics Key Terms 5.5

?
  • Created by: Meghna
  • Created on: 26-05-14 11:34
An NGO which aims to improve living standards in LEDCs by paying higher prices for agricultural produce
Fairtrade
1 of 23
an organisation that aims to promote international free trade
World Trade Organisation
2 of 23
where firms act with a moral sense of responsibility towards their stakeholders
Ethically Responsible
3 of 23
the reduction or cancellation of debt that LEDCs owe to either the World Bank or Developed Nations
Debt Relief
4 of 23
organisations that aim to produce a surplus of income over expenses to promote a good cause
Charities
5 of 23
independent non profit organisations that aim to achieve a particular objective
Non Government Organisations
6 of 23
a sum of money which is owed by the government of an LEDC to richer developed nations or organisations such as the World Bank
International debt
7 of 23
an organisation that provides loans to LEDCs. It is based in Washington in the USA
World Bank
8 of 23
where all restrictions to trade have been abolished between countries who are members within the European Union, creating free trade within the European Union
Single European Market
9 of 23
a company that is based in one country but manufactures and sells products in a variety of other countries
Multinational/transnational corporation
10 of 23
the exchange of goods and services between countries where there are no restrictions
Free Trade
11 of 23
a tax which is imposed on goods and services which have been imported from abroad and which has the effect of increasing the price
Tariff
12 of 23
a physical limit to the amount of goods and services that can be imported into a country
Quota
13 of 23
any barriers excluding that are designed to restrict trade and limit the amount of imports entering a country
Non-Tariff Barriers
14 of 23
the process of erecting barriers to trade such as tariffs and quotas to restrict the amount of imports coming into a country
Protectionism
15 of 23
the exchange of goods and services between countries
International Trade
16 of 23
where a person has a standard of living well below the average for that country
Relative Poverty
17 of 23
where living in poverty makes it harder for you to escape poverty in the long run
Poverty Cycle
18 of 23
a level of income usually defined by the government of international body, below which a person would not be able to afford many of the goods and services seen as essentials of a decent standard of living
Poverty Line
19 of 23
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
Welfare State
20 of 23
where a person cannot afford the basics of life such as food, shelter and clothes
Absolute Poverty
21 of 23
payments made by the government to people that are paid regardless of a person's level of income
Universal Benefits
22 of 23
payments made by the government to people which are determined by the amount of income or savings a person has
Means tested benefits
23 of 23

Other cards in this set

Card 2

Front

an organisation that aims to promote international free trade

Back

World Trade Organisation

Card 3

Front

where firms act with a moral sense of responsibility towards their stakeholders

Back

Preview of the front of card 3

Card 4

Front

the reduction or cancellation of debt that LEDCs owe to either the World Bank or Developed Nations

Back

Preview of the front of card 4

Card 5

Front

organisations that aim to produce a surplus of income over expenses to promote a good cause

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies & Economics resources:

See all Business Studies & Economics resources »See all Topic 5.5 Is there any other help? Key terms resources »