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Economics

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Alena Kulas

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Cards in this guide (11)
Gross domestic product GDP measures and reports output

Gross domestic product GDP measures and reports output in the local currency. This is one of the ways of measuring the economy of a country.

What type of nation will have a high Human Development Index rating

developed, because it has the most money to spend

What is one of the negative features of a free-market economy

No one is really in charge, so it's insecure and uncertain.

What are some examples of how culture affects economics

* Specific holidays like Christmas or Cinco de Mayo. * People watching movies at home on DVDs. * A food preference for pork over other animal meat. * Health habits like smoking or overeating.

How does a high gross domestic product GDP affect health care

Quality health care is expensive, and nations with higher GDP can afford better care.

What factors determine a nation's Human Development Index HDI

* Knowledge of the population through education and reading * Standard of living * Life expectancy

How does a high gross domestic product affect health care

Quality health care is expensive, and nations with higher GDP can afford better care.

Which of the following is a negative features of a free market system

It's unequal; some people do well while others do not.

What is a HDI ranking

HDI stands for Human Development Index.

Whats called when the government controls the entire economy

When the government controls the entire economy, it is called a centrally planned economy.

What factors go into determining a country's Human Development Index (HDI) rating

literacy and education;; and life expectancy

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