When you write
org_list = ['y', 'c', 'gdp', 'cap']
you create the list object, and give it the name "org_list".
Then when you do
copy_list = org_list
you just mean, "the name copy_list refers to the same object as org_list does".
If your list only contains immutable types, then you can create a copy by
copy_list = list(org_list)
But note that this is only valid if the list objects are immutable, because it creates a SHALLOW copy, i.e. the list is copied, but every element on the list is not duplicated.
If you have i.e. a list of lists and want EVERYTHING to be duplicated, you need to perform a DEEP copy:
import copy
org_list = ['y', 'c', ['gdp', 'rtd'], 'cap']
copy_list = copy.deepcopy(org_list)