Flashcards in Society Deck (110)
Temporary unemployment when moving between jobs
Caused by jobs that are only available in certain seasons
Caused by a lack of skill or experience
Capital replaces labour, subsequently raising the unemployment rate. Common in capitalism
Poorest country in the world
Central African Republic
A situation where a person lacks the necessities to sustain life to a point where it is life threatening
6 types of unemployment
Cyclical, Frictional, Hard-core, Seasonal, Structural, Technological
Anyone who is willing and able to work
When someone is willing and able to work but doesn't have a job
What percentage of Burundians live beneath the poverty line?
What kind of Economy does Burundi have?
How long has there been a drought in Burundi?
Why are Burundian households facing food insecurity?
Declining soil fertility, climate, increasing food prices
What did the life expectancy change to between 1993 and 2000?
Declined from 51 to 44
What does GDP stand for?
Gross Domestic Product
'Underground' market in which goods and services are traded illegally
Increased production of goods and services over a period of time
Examples of needs
Warmth, shelter, food, water,
What recent event caused high unemployment worldwide?
2008 global financial crisis
What caused the 2008 GFC?
Wall Street crashed
The uneven distribution of income in an economy
What industry are thriving countries mainly involved in?
Link between input and output in the production of goods and services
Factors affecting productivity
Specialisation, technological, organising resources, incentive, competition, education, effective management, adding capital,
Relationship between output produced and hours worked
Relationship between output produced and amount of capital
Benefits of increased productivity
More profitable, cheaper price, less strain on resources, promote economic growth, increase living standards
Benefits of technological advances
Increased communication with overseas firms, globalisation, proficiency, efficiency, mobility, access to information, reduce waste, costs,
How does land quantity increase?
(Fixed), discovery, imports