Social Study 9 | Chapter 6 Vocabulary

The term for how much of an item there is.

The following picture is an example of which factor of production?

Which economic system more strongly values everyone sharing equally?

The following picture is an example of which factor of production?

Which of the following is NOT one of the basic economic questions?

The term for all of the resources to produce goods and services.

The following ideas are all examples of....

The following picture is an example of which factor of production?

In which economic system do most of the population struggle to meet their own basic needs?

What is the term for producers striving to get consumers to buy their product?

The Liberal government will shift the economy left which means...

Which of the following is NOT one of the three basic questions of economics?

The following picture would most likely happen in which economic system?

A term used by societies to indicate how happy they are.

In Canada, government-owned corporations were formed in order to...

What are the "factors of production" that countries use to build wealth?

A shift ..... is towards more government involvement in the economy.

The resources and processes involved in the production/consumption of goods/services

The economy owned and controlled by the gov't.

This economy is owned and controlled by businesses and individuals.

What is the term for a company owned by a nation's government to provide products and services?

This worldview values individual creativity and independence.

In which economic system do governments tend to have some control over resources?

What is the term for one producer controlling all of the supply of a product?

In this type of economy the government makes all of the decisions about production.

Which economic system does the cartoon below best describe?

A shift ..... is a move towards less government involvement in the economy.

The term for physical and mental effort needed to produce goods and services.

Who determines what will be produced in a pure Market Economy?

What type of economic system would the following quote support?

In which economic system do its citizens tend to pay fewer taxes?

A mixed economist would argue that the best way to achieve public good is through

Government giving a bailout to a private company is more likely in which economic system?

This term is about what's best for society as a whole.

This worldview values equality and putting the needs of society ahead of the individual.

In which economic system does the government control all the factors of production?

Land - Labour - Capital

What is the definition of scarcity?

The term for how many people want to buy something.

The idea that land, labour, and capital limit the supply of what people want and need.

Which economic system more strongly values individualism?

What problem of a pure market economy is identified in the following picture?

The following picture is an example of which factor of production?

Which economic system will oversee business through more regulations.

Which economic system provides the most encouragement for individual incentive to work hard.

Which economic system more strongly values cooperation?

Which economic system is rarely a democracy?

This type of economy allows individuals to make choices that solve scarcity, no government involved.

The term for the money that people own or borrow, purchase resource to produce goods/services.

This type of economy combines private ownership and government involvement.