Untitled Flashcards Set

1. Anthropocentric Worldview: A human-centered view of the world, which asserts that humans are the most important beings and the environment is valuable primarily for its utility to humans.

2. Expansionist Worldview: A perspective that encourages the expansion of human populations and consumption, often at the expense of the environment, advocating for continual growth and development.

3. Biocentric Worldview: A worldview that sees all living organisms, not just humans, as having intrinsic value and deserving of moral consideration.

4. Ecological Worldview: A perspective that emphasizes the interconnectedness of humans with the natural environment, advocating for practices that protect and preserve ecosystems and biodiversity.

5. Three Pillars of Sustainability: Refers to the three main dimensions of sustainability: environmental, social, and economic. These pillars aim for a balanced approach to development.

6. Ecological Footprint: A measure of human demand on Earth’s ecosystems, representing the amount of natural resources required to support human activities.

7. Social Sustainability: Focuses on improving the well-being and quality of life of individuals and communities, ensuring access to resources, rights, and opportunities.

8. Economic Sustainability: The ability of an economy to support long-term economic growth without depleting natural resources or causing harm to the environment.

9. Environmental Sustainability: Practices that ensure natural resources are used in a way that doesn’t harm the environment or deplete ecosystems.

10. Biocapacity: The capacity of an ecosystem to regenerate and provide resources, including food, water, and clean air, that meet human demands.

11. Air Quality Index (AQI): A numerical scale that measures and reports the quality of air in a given location, based on pollutants like particulate matter and ozone.

12. Environmental Performance Index (EPI): An index that ranks countries on environmental health and ecosystem vitality, helping to assess environmental sustainability.

13. Earth Overshoot Day: The day of the year when humanity’s demand for natural resources exceeds the planet's ability to regenerate them in that year, marking ecological overshoot.

14. Resource Scarcity: The lack or insufficiency of critical resources such as water, energy, and raw materials needed to sustain life and development.

15. UN Sustainable Development Goals (SDGs): A set of 17 global goals adopted by the United Nations to address pressing issues like poverty, inequality, environmental protection, and climate change by 2030.

16. Primary Sector: The part of the economy that involves the extraction of raw materials from nature, such as farming, mining, and fishing.

17. Secondary Sector: The part of the economy that involves manufacturing and processing raw materials into finished goods.

18. Tertiary Sector: The part of the economy focused on services such as education, healthcare, banking, and entertainment.

19. Economic Structure: The distribution of output, income, and employment across different economic sectors—primary, secondary, and tertiary.

20. Economic Disparity: Uneven distribution of income, wealth, and opportunities among different groups within a society or between different regions.

21. Poverty: The condition of lacking the resources to meet basic human needs, such as food, shelter, and healthcare.

22. GDP per Capita: The total monetary value of all goods and services produced within a country, divided by the population, serving as a measure of the average income or standard of living.

23. Traditional Society: A society that relies on subsistence farming, barter systems, and traditional methods of production and distribution.

24. Establishing Conditions for Takeoff: A phase in economic development where certain prerequisites, like infrastructure and investments, are put in place for sustained economic growth.

25. Economic Takeoff: A period of rapid economic growth and industrialization, often characterized by increased investment and rising standards of living.

26. Drive to Maturity: A stage in economic development where a society’s economy diversifies, and advanced technology and industries are established.

27. High Mass Consumption: A stage of economic development characterized by widespread consumerism and high levels of economic output and consumption.

28. Gini Index: A measure of income inequality within a nation, ranging from 0 (perfect equality) to 1 (perfect inequality).

29. Income Disparity: The unequal distribution of income among individuals or households in an economy.

30. Social Mobility: The ability of individuals to move up or down the social and economic ladder in terms of income, education, and wealth.

31. Extreme Poverty: A condition where individuals live on less than $1.90 per day, as defined by the World Bank.

32. Wealth: The total assets owned by an individual or group, including property, money, and investments.

33. Income: The regular earnings received from work, business, or investments.

34. Local Economic Disparity: Economic inequality within a specific geographic region or community.

35. Gender Pay Gap: The difference in earnings between men and women for the same work or work of equal value.

36. Racial Pay Gap: The disparity in wages between racial groups, often reflecting systemic inequalities.

37. National Economic Disparity: Income and wealth inequality between different countries, often influenced by factors like development levels and access to resources.

38. Colonialism: A policy or practice of acquiring political control over another country, exploiting it economically, and subjugating its people.

39. Mercantile System: An economic theory and system in which the government regulates trade to ensure that exports exceed imports, creating a favorable balance of trade.

40. Infrastructure: The basic physical systems and services necessary for the functioning of a society, including transportation, energy, communication, and water systems.

41. Concession Companies: Private companies granted the right to exploit natural resources or manage public services, often in developing countries.

42. Neo-colonialism: A form of indirect control in which powerful countries exert influence over less-developed nations through economic, political, or cultural means.

43. Transnational Corporations: Large companies that operate in multiple countries, often exerting significant influence on global trade and economies.

44. Global 500: A ranking of the 500 largest companies in the world by revenue, often seen as a measure of global economic power.

45. Gross Domestic Product (GDP): The total value of goods and services produced within a country's borders in a specific time period, used as a measure of economic activity.

46. Free Trade: The international exchange of goods and services without tariffs, quotas, or other restrictions.

47. Tariff: A tax or duty imposed on imported goods to protect domestic industries or raise revenue.

48. Non-tariff Barrier: Regulatory measures or policies other than tariffs, such as quotas or licensing, that restrict or limit international trade.

49. Trade Quota: A limit on the quantity or value of a particular product that can be imported or exported.

50. Traditional Economy: An economy based on customs, traditions, and barter, with little technological advancement or market exchange.

51. Market Economy: An economic system where prices and production are determined by supply and demand, with minimal government intervention.

52. Command Economy: An economic system where the government controls production, pricing, and distribution of goods and services.

53. Mixed Economy: An economic system that combines elements of market and command economies, with both private enterprise and government intervention.

54. Left-wing: A political ideology that advocates for social equality, welfare, and government intervention in the economy to reduce inequality.

55. Right-wing: A political ideology that advocates for limited government intervention in the economy, individual responsibility, and traditional social values.

56. Progressivism: A political ideology that supports social reform, equality, and policies aimed at addressing societal problems such as poverty, inequality, and environmental degradation.

57. Protectionism: Economic policies designed to protect domestic industries from foreign competition by imposing tariffs, quotas, or other trade barriers.

58. Neoliberalism: A policy framework that emphasizes free markets, deregulation, privatization, and limited government intervention in the economy.

59. Great Depression: A severe worldwide economic downturn in the 1930s, marked by high unemployment, widespread poverty, and a collapse in economic activity.

60. Keynesian Economics: An economic theory developed by John Maynard Keynes that advocates for government intervention in the economy, particularly through fiscal policy, to stabilize economic fluctuations.

61. Development Assistance: Financial or technical aid provided by wealthier nations or international organizations to support the economic development and improvement of living standards in less-developed countries.

62. Aid Fatigue: The decline in public and political willingness to continue providing foreign aid due to concerns about its effectiveness or long-term impact.

Remittances: Money sent by migrants back to their home countries, often used to support family members and contribute to local economies.