CDAE 002 Study Guide - Final Guide: Agricultural Biodiversity, Intensify, Smallpox

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Test on february 20, 2013 created by stephanie marandi (life and debt film, sustainability anyways, and economics in a real. World are not included in this study guide) Capitalism- individuals freely acting out of self interest (maximize pleasure, minimize pain) Establish a system of money and credit. Humans will not be able to offset their consumption of resources. Free market is prone to instability (great depression) Free market generates externalities distorting investments and avoiding feedback. Set of economic policies that have become widespread in the last 25 years. Liberal in the sense of no controls. Neo in a post keynesian sense (ie, reduce govt intervention in markets) Privatization replacing the idea of the public good with individual responsibility . Third world/developing nation underdevelopment is a direct result of first. World/developed nations (overdevelopment) roots lie in colonial history. Gdp: gross domestic product, the sum of value added by all resident producers in the economy.

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