Topic 1 - The Economy - Standard Of Living

AC1 - Business Textbook

What does standard of living mean?

Degree of wealth and material comfort available to a person or community.

What factors determine standard of living?

Money earned, Goods and services consumed

What is a self sufficient society?

A society that produces all goods needed for survival without buying from shops.

What characterizes modern societies?

High economic development, large economic activity, and well developed infrastructure.

What is a rural society?

A society with low population density and larger areas of open land.

What is unemployment?

When people actively looking for work cannot find a job.

What are the impacts of water pollution?

Increases minerals and salts, causing health problems and harming aquatic life.

What does productive use of resources promote?

Promotes a healthy environment and economic growth.

How do lifestyles vary?

They depend on location, culture, family, and spending habits.

What influences modern societies?

Electricity, running water, roads, libraries, schools, and recreation facilities.

What issues arise from air pollution?

Increases sinus infections, medical costs, and affects productivity.

What is the impact of development on the environment?

Leads to pollution and unsustainable resource use.

Is the statement 'The standard of living is not having access to goods and services' TRUE or FALSE?

FALSE

Does self

sufficiency mean meeting your own needs through your environment?

Is modern society characterized by few people and primary sector activities?

FALSE

Do factories pollute our environment?

TRUE

Is an increase in population good for our environment?

No

Does unemployment cause a decrease in the standard of living?

TRUE

Do water and energy promote an unhealthy environment?

FALSE

Are habitats destroyed when land is cleared for buildings?

TRUE

What does 'standard of living' refer to?

Access to goods and services that make life comfortable.

What characterizes a rural society?

Few people, primary sector activities.

What characterizes a modern society?

Industrialized, found in towns and cities.

Name a feature of a traditional society.

Operates independently to meet needs and wants.

Why do some people earn more money than others?

Full time jobs vs part time, More work experience, Special skills vs unskilled, Work ethic, Job opportunities

Name a community project to alleviate poverty.

Grow vegetables to sell, Make furniture from alien trees, Recycle waste, Make clothes to sell, Repair appliances