hass exam

What is sustainability?

Meeting the needs of the present generation without compromising the ability of future generations to meet their own needs.

What are the three aspects of sustainability?

Protection of the environment, maintaining economic development to satisfy the needs of people, and ensuring social development.

What is the Human Development Index (HDI)?

A summary measure for assessing average achievement in three dimensions of human development: wealth, health, and education.

What are the main factors affecting human wellbeing?

Wealth, health, and education.

Define the term 'progressive tax.'

A tax system where people who earn more pay a higher percentage of their income in taxes.

What is income inequality?

The unequal distribution of income among individuals in a population.

What does the Gini coefficient measure?

A scale to define how equal income distribution is in a country, ranging from 0 to 1.

What is the definition of inflation?

The average rate at which prices are rising.

What are 'Demand-Pull' and 'Cost-Push' inflation?

Demand-Pull Inflation occurs when demand for goods and services is high, causing prices to rise; Cost-Push Inflation occurs when production costs rise, leading businesses to pass those costs to consumers.

What are the effects of high unemployment?

Lower consumer spending, struggles for businesses, and increased government spending.

What is fiscal policy?

The government's usage of spending and taxation to influence the economy.

What is monetary policy?

When the RBA changes interest rates to influence spending and saving.

What does sustainable development emphasize?

The balance between environmental protection, economic growth, and social inclusion.

What are locally grown products linked to in sustainability?

Boosting the local economy and reducing transportation emissions.

What is the role of stakeholders in environmental issues?

Identifying key stakeholders and their perspective on sustainability.