BEW2
Vocabulary Units 42- 47 / 54-58 / 60-62
Vocabulary Units 42- 47 / 54-58 / 60-62
Set of flashcards Details
| Flashcards | 188 |
|---|---|
| Students | 12 |
| Language | Deutsch |
| Category | Micro-Economics |
| Level | University |
| Created / Updated | 20.10.2015 / 10.12.2017 |
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soft landing
when the economy is growing faster, commentators starts to talk about the risk or sings of overheating.
they talk about the need for a soft landing, with the government aiming to bring economic activity back to more sustainable levels.
recession
technically, a period of decling activity lasting two consecutive quarters or more.
severe recession is a depression or a slump.
bubble
is a period when demand for something grows too fast
demand
the number of people who want to buy it
economic bubble = financial bubble
Finanzblase
speculative bubble
Spekulationsblase
real estate bubble = prosperty bubble = housing bubble
Immobielienblase
mortgage bubble
Hypothekenblase
bubble bursts
demand falling very fast.
Die Blase platzt.
at the top of the market
when prices were highest
credit crunch
Kreditkrise
is a part of banking crisis.
securities
lending
default on
stop repaying
toxic assets
worthless (Wertlos) assets
light-touch regulation
Lichtregulierung
ratings agencies
commercial organizations that publish risk levels for different securities
rescue
retten
full-blown economic crisis
total economic crisis
full-blown=in voller Blüte
deflation
a period of falling prices and falling demand, which would be very dificult to end.
stimulus packages
actions designed to increase economy activity, for exemple lowering taxes in order to give people more money to spend.
printing money
put more money into the economy than really existed.
galloping inflation
prices rising very fast
stagflation
inflation with no economic growth.
industrialized countries = advanced economies
The west ist taken to include countries such as Japan and Australia
developing countries = less-developed contries (LDCs) at various stages of industrialization
newly industrialized countries (NICs)
middle-income countries
Asian tigers (fast growing economies in SE Asia like Taiwan and Singapore)
BRIC countries (Brazil, Russland, India, China)
income per head
the money earned and the welth possessed by each person
rural economies
based on agriculture
Third World
countries with rural economies and very little industry, where most people are very poor.
industrialized and the less-developed countries
refer to the North and the South.
Gross Domestic Product (GDP)
is the value of its economic output
economic output
all the goods and services produced there in a year
GDP per capita
is the total output of a particular country divided by the number of people living there.
living standards
high level of wealth for people
income distribution
the way that money is divided among the people of a country.
Gross national income (GNP) = Gross Natianal Product (GNP).
this include money coming into a country from investments abroad, minus money leaving the country to go to investors from aboard.
Globalization
is the tendency for the global economy to function as one unit, with increasing interdependence between different parts of the world.
interdependence
what happens in one place affects what happens in another
these are some of the factors that are driving globalization. Its supporters say that growth and prosperity will continue to spread thanks to?
- free movement of capital (money for inverstment ca be easily moved around the world)
- trade liberalization or free trade (obstacles to international trade are gradually being removed)
- shipping costs (Versandskosten) that are ever-declining thanks to teh efficiency of containnerization.
- telecommunications and computing costs that have fallen dramatically
Protectionism
protection for particular companies from foreign competition
for exemple with tariffs (taxes on imprted goods).
Foreign direct investment (FDI)
is when companies put monesy into investment projects in other countries.
