level: Level 1
Questions and Answers List
Economic Activity and energy abbreviations
level questions: Level 1
| Question | Answer |
|---|---|
| What is the economic sector ? | A major division of the economy based on the type of economic activity. The economies of all countries are made up of three sectors; most HICs have a fourth sector |
| What is Energy ? | Heat and motive power. The former provided by the sun and by burning coal, oil and timber, the latter provided by electricity, gas, steam and nuclear power |
| Define Energy Consumption | The amount of energy used by individuals, groups of countries |
| Define Energy Efficiency | Making the most of energy sources in order to cut down on waste and reduce consumption |
| What is the Energy Gap ? | The difference between a country’s rising demand for energy and its ability to produce that energy from its own resources (1). A gap created because the loss of energy caused by phasing out the use of fossil fuels is greater than the amount of energy that is being developed from new, low-carbon sources |
| Define Fossil Fuel | Carbon fuels such as coal, oil and natural gas that cannot be ‘remade/renewed’, because it will take tens of millions of years for them to form again |
| Define the term Global Shift | The movement of manufacturing from HICs to cheaper production locations in LICs |
| Define High-tech Industry | Economic activities that rely on advanced scientific research and produce new, innovative and technologically advanced products, such as microchips, new medical drugs and new materials |
| What is Informal employment ? Identify two disadvantages to informal employment ? Identitfy two advantages to informal employment ? | Types of work that are not officially recognized and are taken up by people working for themselves on the streets of LIC cities. e.g. shoe shining, selling stuff on the street |
| Define Non-renewable energy | Energy produced from resources that cannot be replaced once they are used. Examples include the fossil fuels of coal, oil and natural gas |
| What is the Primary Sector ? | Economic activities concerned with the working of natural resources-agriculture, fishing, mining and quarrying |
| What is the Quaternary Sector in business ? | Economic activities that provide highly skilled services such as collecting and processing information, research and development |
| Define the Secondary Sector | Economic activities concerned with making things, such as cars, buildings and electricity |
| Define Renewable Energy | Sources of energy which cannot be exhausted, such as the sun, wind and running water |
| Define Tertiary Sector | Activities that provide a wide range of services and enable goods to be traded |
| What is a Transnational Company (TNC) ? Any Examples ? | A large company operating in a number of countries and often involved in a variety of economic activities Apple. Microsoft. Nestlé and Shell. |
| What does Gross Domestic Product measure ? | Gross domestic product (GDP) is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period |
| What is 'Per Capita' ? | What Is Per Capita? Per capita is a Latin term that translates to "by head." Per capita means the average per person and is often used in place of "per person" in statistical observances. |
| What is the top down approach ? | Where decisions are made by governments or large companies with little consultation; often large-scale and expensive. |
| What does the HDI (Human Development Index) measure ? | A standard means of measuring human development using health, wealth and education. |
| What are measures of Inequality ? | Economic, social and environmental indicators used to compare levels of development e.g. GDP and life expectancy. |
| What is the bottom up approach ? | Projects that involve local people and communities in decision-making, often involving small-scale projects for the poorest |