What is GDP?, Gross Domestic Product, Great Domestic Production, What is the unemployment rate?, The n° of people who are able to work but are unable to find a job., the total n° of workforce in a country, What is inflation?, the rate at which the price of goods increases over a period of time, the rate at which the price of goods decreases over a period of time, What is the green economy?, a system of economic activities that expose future generations to significative environmental risks and ecological scarcities., A system of economic activities related to the production, distribution and consumption of goods and srvices that result in improved human well being over the long term., Which are the 6 main sectors of a green economy?, solar pannels, electric energy, hydrogen transportation, no chemicals in the land, recyclable products, green tourism., renewable energy, green buildings, water management, land management, waste management, clean transportation., What are the three economic indicators?, GDP, inflation and deflation, unemployment, shrinkflation, GNP and youth unemployment., What are the four phases of a business cycle?, expansion, recession, depression, recovery., economic growth, unemployment, peack, depression., What is shrinkflation?, it is a peack of deflation in a country., the practice of reducing the size, quantity or weight of a product while the price remains the same., What are 3 methods to try to reduce unemployment??, reduce taxation, improve education, build new houses. , retraining opportunities, incentives, policies to increase demand., What is the public sector?, the part of an economy that is controlled by the state., the part of an economy that is controlled by big companies., Who promoted for the first time a free trade in economy?, Adam Smith, John Maynard Keynes., What are the 3 main economic systems?, monarchy, republic, democracy., free market economy, command economy, mixed economy., What are three advantages of the public sector?, services are not duplicated so resources are not wasted, lower and stable prices, profits go back to the government and can be used elswhere., A high competition, prices can grow easily, tariffs cangrow according to government rules., What are two disadvantages of the private sector?, profit is moe important than welfare, increase of economic inequality., companies earn very little, the pollution. .

CLASS 3RA

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