Unit 4 Economics Definitions

Created by: Lola
Created on: 26-02-13 22:05

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1. Early stage of economic development where proportion of national output from manufacturing grows rapidly as agriculture's share declines. (17)
6. Process whereby its established 15 members of the European Union is widening its membership to new European (accession) countries (2, 11)
8. Transfer of resources to LEDCs on concessional terms which aim to promote economic development. (3)

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2. The emigration of highly skilled workers (domestically trained) who are able to earn far higher salaries abroad (5, 5)
3. Situation of persistent negative inflation. (9)
4. New Labour's policy to combat long term unemployment: after a period of assisted job search, an unemployed person is guaranteed some form of paid work (voluntary work or subsidised employment) or training. (3, 4)
5. Loan which is provided to a LEDC at concessionary rates with interest rates at least 25% lower than market rates for example. (4, 4)
7. The raising of trade barriers against imports. (13)
9. Practice of selling exports in foreign markets at below cost (or below selling price in domestic market). (7)
10. A group of countries who form a free trade area, customs union or common market as a way to reduce trade barriers between them and raise barriers to non-members. (7, 4)

Comments

jack thorne

Report Wed 6th March, 2013 @ 20:57

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george

Report Sun 10th March, 2013 @ 22:46

nice

davidsalter

Report Tue 17th December, 2013 @ 10:49

This is a set of 93 flash cards covering the unit 4 syllabus. Definitions are accurate and most of the main terms are included. Can be used for personal and joint revision and highlighting areas for further study.

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Unit 4 Economics Definitions

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