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Davis Exam 2 D270 Questions With Solved Solutions Already Passed
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10/7/24, 4:11 AMJeremiah
Davis Exam 2 D270
Terms in this set (60)
Nations with social or business activity in the process of rapid growth and
industrialization.
Emerging Economy
-BRICs
-Keep increasing in percentage of GDP
-Efficient capital movement
-Stable Institutions
Developed Economy -Trade & Investments
-Produce 60% of world GDP
-People still struggle with low paying jobs
-Uneven economic environment
-Trade restrictions
Developing Economy
-Low gross income per capita
-Seen as poor hygeine, poor living conditions
The absolute right of property ownership, fully realized freedoms of movement for
Economic Freedom
labor, capital, and goods.
An economic and political system in which companies are privately owned but
cooperate closely with the government. (Government manipulates market
outcomes).
State Capitalism
-Could be good for economy to develop fast
-Not a lot of political freedom (no protests)
Individuals decide what goods and services they will buy and sell
-Commonly found in developed economies
Market Economy
-Laissez Faire
-Consumers determine price
An economic system in which the government makes all economic decisions.
Command Economy
-Can outperform free markets for short periods
Mix of command and market
Mixed Economy -Most economies are mixed
-Associated with socialism
GDP Outputs produced within the domestic border
Gauge economic performance in terms of the effect of current choices on long-
Green Economics
term sustainability. Dependent on the natural world
The ability to keep in existence or maintain. A sustainable ecosystem is one that can
Sustainability
be maintained
-In catfish case
Dumping -Claiming to be sold below cost of production
-Once they dominate competition then they raise price
Stakeholder Shareholders, employees, customers, suppliers, and society
Voluntary Export Restraint (VER) a self-imposed limitation on the number of products shipped to a particular country
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