Economic History of Singapore: 1965-2065

Vocabulary flashcards based on key concepts from the economic history of Singapore.

Gross Domestic Product (GDP)

The total value of goods produced and services provided in a country during one year, used as a measure of a nation's economic performance.

Gini Coefficient

A statistical measure of income inequality within a population, ranging from 0 (perfect equality) to 1 (perfect inequality).

Export-led industrialization

An economic strategy aimed at speeding up the industrialization process by promoting the export of goods and services.

Green industry

Economic activities that focus on sustainability and environmental protection, including renewable energy and carbon management.

ASEAN Economic Community (AEC)

A regional integration initiative among Southeast Asian countries to create a single market and production base.

multinational corporations (MNCs)

Companies that have operations in multiple countries, often leveraged for global production and market strategies.

Climate Change Mitigation

Efforts to reduce or prevent the emission of greenhouse gases to slow down global warming.

Demographic Transition

The transition from high birth and death rates to low birth and death rates as a country develops.

Smart Nation

A national initiative aimed at harnessing technology and data to improve living standards and enhance economic opportunities.

Ideas Economy

An economy where growth is driven by the generation and application of ideas, focusing on value-addition through innovation and creativity.