Economics

A person who values individualism would believe that most people...

An economic system where the government owns some or all of the factors of production.

The amount of goods or services available is called?

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

What are the three factors of production?

An economy that has features of more than one of the economic systems.

Max lives in a country where businesses decide who, what and how things are produced.

Consumers will pay more for a product if the supply of that product increases.

Which of following developments would most concern labour unions?

The point where supply and demand are balanced?

How would the a government in a pure market economy deal with unemployment/poverty?

What are the three economic questions every economy must answer?

In an economy based on collectivism, the government would show the most concern for...

In a free market economy...

An economic system in which decisions on production/consumption is made by private businesses.

The human factor of production is...

An economic system where decisions on productions/consumption are made by a central government.

As the price of a product increases, businesses will produce more of that product if possible.

Communist countries have a __________ economy.

The CBC is a....

An economic system where the government owns all of the factors of production.

The US believes individualism is the best way to achieve public good.

The price of the new Iphone X goes up again, what will happen to its demand?

Public good is...

Which of the following economic systems is correctly matched with one of its characteristics?

If there is ______of something for sale, then then supply is ______.

The lowest unemployment rates come from what province (as of 2016)?

Labour unions help recognize workers' rights to...

At times, governments create monopolies to help provide essential services like sewage.

The government of Canada provides grants to artists and athletes to represent Canada worldwide.

The study of production, distribution and consumption of goods and services is called?

A mixed economist thinks that consumers should decide what types of movies/shows are created.

The group that determines the demand of a product is...

The group that determines the supply is...

Sarah lives in a country where the government has total control of the economy.

A mixed economist thinks that governments should respect and support labour unions.

"Freedom of choice is supplemented by government support," represents what system?

Roosevelt's government increase pensions for senior citizens. This is a shift...

France has a mostly_________ economy.

A market economist believes the government should create and protect people's jobs.

Labour unions are organizations that support workers and their rights.

If ____people want the goods available, there is _______.

The way in which a nation uses its resources to satisfy people's needs and wants.

Crown Corporations were created to...

Maggie owns a private business but there is still some government regulation.

An __ is someone who takes a risk to start a business. Ex: Bill Gates who started Microsoft.

The economic problem of having unlimited human wants in the world of limited resources.

Since the price of the Iphone X is high, what will happen to its supply amount?

Mulroney's government decided to cut government spending. This is a shift...

Why do workers go on strike?

Scarcity arises because all societies have...

Pearson's government created publicly funded healthcare. This is an example of a shift...

Canada believes cooperation is the best way to achieve public good.

Resources that are renewable and non-renewable and can be used to create products

The highest unemployment rates in Canada come from what provinces?

What are the values of a market economy?

Tim Horton's and Starbucks both make coffee and hot beverages. They are examples of...

Monopolies are...

Reagan's government reduced government regulation of corporations. This is a shift...

The USA has a mostly ______ economy.