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09GEO concepts of geo and business and economics Flashcards | StudBud
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09GEO concepts of geo and business and economics
09GEO concepts of geo and business and economics
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1
What is a monopoly?
A really fun board game.
A single company with all the control.
A group of companies with no control.
A single company with no control.
2
What is a commodity?
Common products
Any product worth money
Of raw material that can be bought and sold
Items that can be purchased through the World Wide Web
3
What is the TOURISM INDUSTRY?
Composed of establishments lodging&food service management.
Primarily for leisure, although business is also important.
A group of businesses that encompasses travel/transportation
4
Which is NOT a continent?
Columbia
North America
Africa
South America
5
What is Trade
Tradeis the action of buying and selling goods and services
Taking someone else's lunch
Singing Purple People Eater
6
What is Globalisation
Travel from place to place in order to experience the world
Trading fresh produce with other countires
Everyone becoming friends on Facebook
Worldwide coming together of economy, trade and culture
7
What is Income ?
Phone
Money that comes in (Work Paycheck, SSI, allowance, ...)
You are coming in.
High price that you can't afford
8
What is GDP?
gosh darn pickles
per capita
gas, diesel, propane
gross domestic product
9
What is revenue?
the money you have left over from your paycheck
total income generated from selling products & services
the amount of money you make in your paycheck before taxes
the amount of money left after all expenses are taking out
10
What is a duopoly?
An oligopoly with a few large firms
A market with a lot of small firms
A type of monopoly
An oligopoly with only two members
11
What is a tariff?
A quota on what the US can import.
A tax on imports.
A farming subsidy
12
What is Globalisation
Trading fresh produce with other countires
Worldwide coming together of economy, trade and culture
Travel from place to place in order to experience the world
Everyone becoming friends on Facebook
13
What is tourism?
Commercial organisation of holidays to different destination
Travelling on holiday to other countries
The travel of people for leisure or business
People going on holiday
14
What is tourism?
home-based leisure
going on holiday or days out
arts and entertainment
going home
15
What is interdependence?
an economic system based on private ownership & free trade
countries are linked to each other through culture & trade
a relationship between countries: they rely on each other
the spread f culture traits from one region to another
16
What is an oligopoly?
When one business controls the market
When all businesses sell the same thing
When businesses try to make their product unique
When a few large businesses dominate the market
