ECO12_2

Card Set Information

Author:
crazysparks
ID:
251010
Filename:
ECO12_2
Updated:
2013-12-05 13:24:40
Tags:
ECO
Folders:

Description:
PRELIMS - ECO12_2 (Mr. Battung)
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user crazysparks on FreezingBlue Flashcards. What would you like to do?


  1. -represents the expansion of a country's national output
    ECONOMIC GROWTH
  2. -concern with the concept of growth rate
    ECONOMIC GROWTH
  3. -this determines the rate at which the country's living standards are rising
    ECONOMIC GROWTH
  4. Four Wheels of Growth:
    • Human Resources
    • Natural Resources
    • Capital Formation
  5. -labor supply, education, discipline, motivation
    HUMAN RESOURCES
  6. -land, minerals, fuels, environmental quality
    NATURAL RESOURCES
  7. -machines, factories, roads
    CAPITAL FORMATION
  8. -denotes the ratio of output in a weighted average of inputs
    PRODUCTIVITY
  9. -labor inputs consist of quantities of workers and of the skills of the workforce
    HUMAN RESOURCES
  10. -consist of all those people 15 years of age or older who are currently employed or looking for work
    LABOR FORCE
  11. Trends in Labor Force (The Last 50 Years)
    • The number of "blue-collar" job has increase compared to "white-collar job".
    • Blue-collar job and service industry employment has been increasing.
    • The proportion of women in the labor force has been increasing.
    • Workers have been leaving the farm.
    • Labor has been earning higher wages while working comparable hours.
    • Education has been increasingly important
  12. -it is also called as Social Overhead Capital
    CAPITAL FORMATION
  13. -roads, irrigation, and water projects and public health measure are important examples
    CAPITAL FORMATION
  14. -denotes changes in the processes of production or introduction of new products or services
    TECHNOLOGIES CHANGE
  15. "That original state of things, which precedes both the appropriation of land and the accumulation of stock."
    ADAM SMITH
  16. "This was a time when land was freely available to all, and before capital accumulation had begun to matter."
    ADAM SMITH
  17. -wrote 'An essay in the First principle of population' first published in 1798
    THOMAS MALTHUS
  18. The Core Principles of Malthus
    • Food is necessary for human existence.
    • Human population tends to grow faster than the power in the earth to produce subsistence.
    • The effects of these two unequal powers must be kept equal.
    • Since humans tend not to limit their population size voluntary - "preventive checks" in Malthus' terminology.
  19. -were to limit the population growth. It included abstinence/postponement of marriage which lowered the fertility rate.
    NEGATIVE CHECKS
  20. -were ways to reduce population size by events such as famine, disease, war - increasing the mortality rate and reducing life expectancy.
    POSITIVE CHECKS
  21. -group of industrialists, scientists, economists, and statesmen from 10 countries
    -published 'The Limits to Growth' in 1972
    THE CLUB OF ROME
  22. -believed that people have the resources of knowledge and technology to increase food supplies.
    ESTHER BOSERUP 1965
  23. -she suggested that population growth has enabled agricultural development to occur
    ESTHER BOSERUP 1965
  24. -the allocation of different jobs to different people.
    -it can cause problem because our economy cannot sustain the jobs of all its citizen around the country.
    SPECIALIZATION OF LABOR

What would you like to do?

Home > Flashcards > Print Preview