Economic Concepts: Gross Domestic Product, National Income, and Sustainable Development, Quizzes of Geography

Download Economic Concepts: Gross Domestic Product, National Income, and Sustainable Development and more Quizzes Geography in PDF only on Docsity! TERM 1 Gross Domestic Product (GDP) DEFINITION 1 an estimate of the total value of all materials, foodstuffs, goods, and services that are produced by a country in a particular year. - done per capita - is a good yardstick of economic develpment TERM 2 Gross national income (GNI) DEFINITION 2 a measure of the income to a country from production wherever in the world it occurs Example: U.S owned company operating in another country sends back profits to the US TERM 3 Sustainable Development DEFINITION 3 using renewable natural resources in a manner that does not eliminate or degrade them - making greater use, for example, of solar and geo thermal energy and recycled materials. TERM 4 Primary Activities DEFINITION 4 Activities concerned directly with natural resources of any kind; they include agriculture mining fishing & forestry TERM 5 Secondary Activities DEFINITION 5 Activities that process transform, fabricate, or assemble the raw materials derived from primary activities or reassemble, refinish, or package manufactured goods. Steelmaking, food processing, furniture making, textile manufacturing, automobile assembly, and garment manufacturing