The Basic Economic Problem (Grade 10 NSC Matric Economics): Flashcards
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Practise the cards
10 cards from this deck
Sustainable development definition
Sustainable development definition
Economic growth meeting current needs without harming future
3 pillars of sustainable development
3 pillars of sustainable development
Economic progress, social fairness, environmental protection
Child labour
Child labour
Using children for work instead of allowing them to attend school
Sweat shops
Sweat shops
Factories with poor conditions, long hours, and very low wages
Recycling
Recycling
Reusing materials instead of throwing them away to reduce waste
Non-renewable resources examples
Non-renewable resources examples
Oil, coal, and minerals that cannot be replaced once used up
External costs
External costs
Negative effects businesses pass on to society rather than pay
Gov action: Fines for firms who pollute
Gov action: Fines for firms who pollute
Making companies pay for environmental damage they cause
Gov action: Subsidies for eco-friendly firms
Gov action: Subsidies for eco-friendly firms
Supporting businesses that adopt green/sustainable practices
Polluting the environment
Polluting the environment
Releasing harmful substances into air, water, or soil