What is the main advantage of a mixed economy?

resources allocated by both price and government decision

What is the idea of consumerism?

To not only buy what you need but also what you want.

What is a labour union?

an organization of workers that protect workers rights

What is the definition of Crown Corporation?

Companies established by the state or a government

What is mixed economy?

Economy has a mix of both private and publicly owned businesses

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Economic Systems & Consumerism

15 termsStudBud Administration110 plays

Chapter 6 and 7 in Grade 9 Social Studies

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Questions 15

Answers

1
What happens when the supply is high and the demand is low?
Prices go crazy and have a party
The Prices tend to increase
The Prices tend to fall
You have the equlibram
2
What is the main advantage of a mixed economy?
resources allocated by both price and government decision
government can encourage consumption of beneficial products
government can discourage the consumption of bad products
government can stop exploitation from private firms
3
What is scarcity?
More than enough
The right amount
Short supply
4
What happens when the Supply is low and the demand is high?
The price decreases
The price increaces
5
Which party is more left?
Conservative
Liberal
6
What is market economy?
Individuals are in charge
Government is in charge
Both government and individuals are in charge
No one is in charge
7
What is the idea of consumerism?
To eat as much food as possible.
For everyone to be in the same social class and have the same stuff.
To buy only what you need as nothing else.
To not only buy what you need but also what you want.
8
What is a labour union?
an organization that is designed for only American workers
an organization of workers that protect workers rights
an organization that is designed for employers
an organization of workers that value unfairness
9
What type of economy is the US mostly based on?
Market Economy
Mixed Economy
Planned Economy
10
Can a government be in between the spectrum of mixed and market?
No
Yes
11
What is the definition of Crown Corporation?
How the government handles taxes
Companies established by the state or a government
A type of social service provided to workers
A company that is privatized
12
A monopoly is the possession and control of the supply of products is controlled by multiple companies
False
True
13
Canada is based on a market economy but still has government intervention.
False
True
14
What is mixed economy?
Economy is based off of privately owned businesses
None of the above
Economy is based off government economic decision making
Economy has a mix of both private and publicly owned businesses
15
Which party is more right wing?
Liberal
Conservative

Economic Systems & Consumerism Flashcards | StudBud