Untitled Flashcards Set

1. 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.

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

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

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

5. Three Pillars of Sustainability:

• 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.

6. 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.

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

8. Air Quality Index (AQI): A scale used to measure and report air pollution levels and their potential health effects.

9. Environmental Performance Index (EPI): A tool ranking countries based on their environmental health and sustainability efforts.

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

11. Resource Scarcity: The depletion or limited availability of essential resources like water, food, and energy.

12. 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.

13. Economy Sectors:

• 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.

14. Economic Structure: The composition of an economy in terms of sectors and industries.

15. Economic Disparity: Unequal distribution of wealth, resources, and income within a society or between countries.

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

17. GDP per Capita: The total economic output of a country divided by its population, measuring average individual income.

18. Traditional Society: Pre-industrial stage with subsistence agriculture and minimal trade.

19. Establishing Conditions for Take-Off: Investment in infrastructure and specialization begin.

20. Economic Take-Off: Rapid industrialization and urbanization.

21. Drive to Maturity: Economy diversifies and adopts advanced technology.

22. High Mass Consumption: Shift to consumer-oriented societies with high living standards.

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

24. Income Disparity: Differences in income levels among individuals or groups.

25. Social Mobility: The ability of individuals to improve their socioeconomic status.

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

27. Gender Pay Gap: The average difference in earnings between men and women.

28. Racial Pay Gap: Income inequality based on racial or ethnic identity.

29. Local Economic Disparity: Income and wealth inequality within specific regions or communities.

30. National Economic Disparity: Income inequality between regions or populations of a single country.

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

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

33. Neo-colonialism: Indirect control over developing countries through economic and political pressures rather than direct colonization.

34. Transnational Corporations (TNCs): Large companies operating in multiple countries, influencing global trade and development.

35. Concession Companies: Firms granted rights to extract and exploit resources in colonies or foreign lands.

36. Traditional Economy: Based on customs and bartering, with minimal technological advancement.

37. Market Economy: Driven by supply and demand with limited government intervention.

38. Command Economy: Centralized control of resources and production by the government.

39. Mixed Economy: A blend of free market and government regulation.

40. Free Trade: Trade between countries without restrictions or tariffs.

41. Tariff: A tax imposed on imported goods to protect domestic industries.

42. Non-Tariff Barrier: Restrictions other than tariffs, such as quotas or regulations, that limit trade.

43. Trade Quota: Limits on the amount of goods a country can import or export.

44. Left-Wing: Political ideology focusing on social equality, welfare, and government intervention in the economy.

45. Right-Wing: Political ideology emphasizing free markets, individual freedoms, and limited government intervention.

46. Progressivism: Advocacy for social reform, environmental protection, and economic equality.

47. Protectionism: Policies that protect domestic industries from foreign competition.

48. Neoliberalism: Economic policies favoring free markets, deregulation, and privatization.

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

50. Keynesian Economics: Economic theory advocating government intervention to stabilize the economy through spending and monetary policies.

51. Development Assistance: Aid provided by wealthier countries to support development in poorer nations.

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

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