Social 9 Economics Review

There are only 2 Playstation 5s left on Earth, what will this do to its price?

Who/what drives market and mixed economies?

Which is NOT a basic economic question?

If you live in a market economy, who would control resources?

Handmade chairs are the best chairs. What aspect of production makes them unique?

In a market economy, how are problems dealt with?

What is a monopoly?

How do Labour unions put pressure on employers?

define economics

when the supply of a product can meet the demand for a product for a particular price

What is a crown corporation?

What is demand?

What is the underlying basis for Canada's economy? 

What is the public aspect of an economic system like Canada?

In a mixed economy, how are problems dealt with?

What is the private part of a mixed economic system like Canada?

The left side of the economic spectrum means....?

If price goes up, what happens to demand?

Wal-Mart and Superstore have set the price of toilet paper to $50, in a market economy, what would happen?

The right side of the political spectrum means......?

On the economic spectrum, compared to Canada, the US economy is more...

Keith has lots of money to start a business. What area of production does he have covered?

If supply goes up, what happens to price?