Society, General Knowledge for Vocational Schools (ABU), Vocabulary, Chapter 9
Vocabulary, Chapter 9
Vocabulary, Chapter 9
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| Karten | 30 |
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| Sprache | English |
| Kategorie | Englisch |
| Stufe | Berufslehre |
| Erstellt / Aktualisiert | 02.05.2018 / 08.08.2018 |
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customs
levy on goods imposed at the border when importing or exporting goods
World Economic Forum (WEF)
annual forum for business leaders, state leaders, scientist and cultural representatives in order to promote worldwide networking in the areas of economics, politics and science
World Trade Organization (WTO)
international organisation that supports and promotes free global trade/ world trade
distributive justice
morally fair ways of equitably distributing goods
United Nations (UN)
an international organization with 193 member states that encourages countries to work together to ensure world peace and comply with international law
locational advantage
advantage that arises due to location
social market economy
market-oriented economic system in which the state can take actions in order to redistribute income and assets
emerging market
developing country in the middle of a transition into a industrialised country
planned economy
an economic system in which the economic processes are centrally planned and controlled by public authorities
economy
science that studies the economical system of a country (consumption of goods and money)
neutrality
Switzerland's foreign and security policy principle; non-interference, independence, self-sufficiency
monopoly
a type of market failure; a company that has complete control of the product or service it provides because it is the only company that provides it; due to lack of competition, this provider can largely determine the prices and quantities
market opening/ deregulation
enabling accessibility of a market area to other businesses, products
economic cycle; business cycle; trade cycle
general pattern of recurring periodic fluctuations which runs the gamut of four economic phases, ranging from expansion, peak, recession to recovery
economic fluctuation
the up and down movement of the economic cycle
cartel
a group of people or companies who all agree to sell something at the same price so that they can all make profits without competing with one another
International Committee of the Red Cross (ICRC)
is a humanitarian institution which strives to uphold human rights and prevent and alleviate suffering
inflation
price increase; a persistent, substantial rise in the general level of prices related to an increase in the volume of money and resulting in the loss of value of currency
industrialised country
a country with social, economic and political development at a high standard
import
to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, re-export, or services
globalisation
worldwide network across diverse areas, e.g. economy, ecology, etc.
G20
a group of heads of state and government of the 20 most important industrialised and emerging economies to discuss issues relating to the international financial system
free trade
trade agreement between two countries or groups of counties to liberalise trade
free market economy
economic system where the government has little or no influence on economic affairs
export
to ship (commodities) to other countries or places for sale, exchange, etc.
European Union (EU)
an association of 28 European nations formed in 1993 for the purpose of achieving political and economic integration
development cooperation
a section of Swiss foreign policy which combats poverty through monetary aid and onsite programmes
developing country/ nation
country that is socially, economically and politically lower in standard than industrialized countries
energy source
raw material that can be used to produce energy ( renewable and not renewable)
bilateral contract
a two-party arrangement which is regulated on both sides (e.g. a contract between the EU and Switzerland)
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