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SOC 9 - Chapter 6 Economic Systems Flashcards | StudBud
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SOC 9 - Chapter 6 Economic Systems
SOC 9 - Chapter 6 Economic Systems
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1
If the supply goes up and the price goes down, what happens to the demand?
Equilibrium
Down
Up
2
In this economy, private ownership and government control are balanced.
Mixed
Privatized
Planned
Market
3
Liberals are
Right of center
Left of center
4
A shift on the economic spectrum towards less government involvement...
Shift LEFT
Shift RIGHT
5
A shift on the economic spectrum towards more government involvedment...
Shift LEFT
Shift RIGHT
6
Canada's economic system is based on the belief that the what is good for society is about
individuals considering each other and working cooperatively
what is best for individuals will be what's best for all
7
Canada has a __________ economy.
Market
Mixed
Public
Planned
8
A cessation of work by workers (when workers stop working) in order to put pressure on employer
workmen's compensation
strike
labour freeze
workplace freeze
9
Conservatives are
Left of center
Right of center
10
What happens when the demand goes up and the supply goes down?
Equilibrium
Price goes down
Price goes up
11
NDP party is
Center
Right of Center
Left of Center
12
"The public good" is about what is good for
the individual citizen
spending of tax money
government and leadership
society as a whole
13
Negotiating as a whole group is called ______ and is a key right established by unions.
collective ambiguity
social bargaining
social ambiguity
collective bargaining
14
The study of production, distribution and consumption of goods and services...
economic system
economics
economy
15
The part of the economy that is controlled by government and paid for by taxes...
publicly owned
privatized economy
privately owned
conservative controlled
16
The percentage of the workforce that does not have jobs is referred to as the
employment rate
unemployment rate
workforce employment rate
unfilled rate of pay
17
True or False: Canada's gov sometimes becomes involved in economy in order to preserve culture.
False
True
18
The products and services created by producers
supply
demand
capital
produce
19
The part of the economy that is owned and controlled by businesses and individuals...
privately owned
conservative controlled
government owned
publicly owned
20
What is a Crown Corporation? A corporation owned and operated by the
government
people
private sector
monarchy
21
The idea that land/labour/capital limit the supply. Not enough for everyone to get it free.
Economics
Scarcity
Demand
Supply
22
In this type of economy, government makes ALL decisions about resources and managing scarcity.
Mixed
Market
Planned
Public
23
China has a _________ economy.
Planned
Private
Market
Mixed
24
The United States has a ___________ economy.
Public
Planned
Mixed
Market
25
Canada and USA economies both strive to answer the following questions...WHAT IS THE BEST WAY
to meet the needs of the most productive citizens?
to meet the demands of the economy?
to ensure a wealthy and prosperous country
to achieve the common good?
26
Those who use products and services
economists
demanders
consumers
suppliers
27
The way a society organizes the production, distribution and consumption of goods / services...
economics
economic system
economy
28
The choices of individuals solve scarcity. Private businesses own and manage resources.
Planned economy
Public economy
Market economy
Mixed economy
29
Which of the following is NOT a reason for creating a crown corporation?
promote economic development
provide essential services
support Canadian culture and identity
to increase tax revenue
