Factors that Influence the Cost of Living in Barbados Free Essay, Term Paper and Book Report
GLOSSARY
Cost of living
The average price of providing the necessities for an individual; the cost of buying those goods and services which are considered to be a standard level of consumption.
www.sasked.gov.sk.ca/curr_content/paasurvey/entre/Content/glos1/htm
Globalisation
The tendency for markets to become global, rather than national, as barriers to international trade (e.g. tariffs) are reduced and international transport and communications improve; and the tendency for large multinational companies to grow to service global markets.
The process whereby trade is now being conducted on ever widening geographical boundaries. Countries now trade across continents and companies also trade all over the world.
Price Index
The measure of the level of prices found by comparing the cost of a certain basket of goods in one year with that cost in a base year.
www.wwnorton.com/college/econ/stiglitz/glossp.htm
Inflation
A positive rate of growth of the general price level.
Soci-economic
The potential buyers of a consumer product grouped together in terms cert......
Word Count: 3954
Page Count: 15.8 (250 words a page / double spaced)
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