Untitled Flashcards Set

Anthropocentric Worldview

A perspective that considers humans as the central and most important entities in the universe, prioritizing human needs and interests over those of other species or the environment.

Expansionist Worldview

Focuses on exploiting natural resources to fuel economic growth and technological advancement, often at the expense of environmental sustainability.

Biocentric Worldview

A perspective that values all living organisms and ecosystems, emphasizing their intrinsic worth regardless of their utility to humans.

Ecological Worldview

Highlights the interconnections of all living and non-living elements, advocating for harmony between human activity and natural systems.

Environmental Sustainability

Protecting natural systems and resources.

Social Sustainability

Ensuring social equity, inclusivity, and access to basic needs.

Economic Sustainability

Supporting long-term economic stability without harming the environment or society.

Ecological Footprint

A measure of the environmental impact of human activities, calculated as the amount of land and water needed to produce resources and absorb waste.

Biocapacity

The capacity of an ecosystem to regenerate resources and absorb waste.

Air Quality Index (AQI)

A scale used to measure and report air pollution levels and their potential health effects.

Environmental Performance Index (EPI)

A tool ranking countries based on their environmental health and sustainability efforts.

Earth Overshoot Day

The date each year when humanity’s resource consumption exceeds the Earth’s capacity to regenerate those resources within that year.

Resource Scarcity

The depletion or limited availability of essential resources like water, food, and energy.

UN Sustainable Development Goals (SDGs)

A set of 17 global goals adopted by the United Nations to address poverty, inequality, and climate change by 2030.

Primary Sector

Involves the extraction of natural resources (e.g., farming, mining).

Secondary Sector

Focuses on manufacturing and industrial production.

Tertiary Sector

Services sector, including retail, healthcare, and education.

Economic Structure

The composition of an economy in terms of sectors and industries.

Economic Disparity

Unequal distribution of wealth, resources, and income within a society or between countries.

Poverty

A state of lacking sufficient financial resources to meet basic needs like food, shelter, and education.

GDP per Capita

The total economic output of a country divided by its population, measuring average individual income.

Traditional Society

Pre-industrial stage with subsistence agriculture and minimal trade.

Establishing Conditions for Take-Off

Investment in infrastructure and specialization begins.

Economic Take-Off

Rapid industrialization and urbanization.

Drive to Maturity

Economy diversifies and adopts advanced technology.

High Mass Consumption

Shift to consumer-oriented societies with high living standards.

Gini Index

A measure of income inequality within a country, where 0 represents perfect equality and 1 represents maximum inequality.

Income Disparity

Differences in income levels among individuals or groups.

Social Mobility

The ability of individuals to improve their socioeconomic status.

Extreme Poverty

Living on less than $2.15 per day (as defined by the World Bank).

Gender Pay Gap

The average difference in earnings between men and women.

Racial Pay Gap

Income inequality based on racial or ethnic identity.

Local Economic Disparity

Income and wealth inequality within specific regions or communities.

National Economic Disparity

Income inequality between regions or populations of a single country.

Colonialism

The practice of acquiring and controlling territories, exploiting their resources, and dominating their political and cultural systems.

Mercantile System

An economic policy where colonies provide raw materials to the colonizing country in exchange for manufactured goods.

Neo-colonialism

Indirect control over developing countries through economic and political pressures rather than direct colonization.

Transnational Corporations (TNCs)

Large companies operating in multiple countries, influencing global trade and development.

Concession Companies

Firms granted rights to extract and exploit resources in colonies or foreign lands.

Traditional Economy

Based on customs and bartering, with minimal technological advancement.

Market Economy

Driven by supply and demand with limited government intervention.

Command Economy

Centralized control of resources and production by the government.

Mixed Economy

A blend of free market and government regulation.

Free Trade

Trade between countries without restrictions or tariffs.

Tariff

A tax imposed on imported goods to protect domestic industries.

Non-Tariff Barrier

Restrictions other than tariffs, such as quotas or regulations, that limit trade.

Trade Quota

Limits on the amount of goods a country can import or export.

Left-Wing

Political ideology focusing on social equality, welfare, and government intervention in the economy.

Right-Wing

Political ideology emphasizing free markets, individual freedoms, and limited government intervention.

Progressivism

Advocacy for social reform, environmental protection, and economic equality.

Protectionism

Policies that protect domestic industries from foreign competition.

Neoliberalism

Economic policies favoring free markets, deregulation, and privatization.

Great Depression

A severe global economic downturn during the 1930s, characterized by mass unemployment and financial instability.

Keynesian Economics

Economic theory advocating government intervention to stabilize the economy through spending and monetary policies.

Development Assistance

Aid provided by wealthier countries to support development in poorer nations.

Aid Fatigue

A decline in donor willingness to provide foreign aid due to perceived inefficiency or lack of progress.

Remittances

Money sent by migrants to family members in their home countries.