Canada's Economy

In a ____________ Economy, jobs and roles are inherited.

Lumber, Petroleum, Coal, and Minerals are all considered:

It is possible to have a Pure Command or Pure Market economy.

____economies normally have weak property rights as well as policies that discourage trade.

The ______________ grows the GDP because it is operated by entrepreneurs who start businesses.

The part of the economy that is owned by the National Government

Bartering is most common in a Command Economy.

Which of the following is not considered Human Capital?

A country can increase its ________ by investing in education for its citizens.

Money granted by the government to assist a business in lowering the cost of products/services.

A Market Economy is based on the laws of supply and demand.

To transfer a business, industry, or service for public (government) to private control.

Entrepreneurs are most prevalent in this type of economy:

A person who opposes the authority of an established government.

Which NAFTA country would represent the letter A in the continuum?

A wage is financial gain through illegal means, typically through kickbacks and bribes.

Most all economies in the world are considered ____________ economies.

The GDP goes up when there is an abundance of Natural Resources

NAFTA stands for the “North American Fur Trade Agreement.”

In a ________ Economy the government dictates everything including wages and production quotas:

A nation’s buildings, roads, bridges, power grids, etc.

The level of wealth and material comfort available to people.

The lower the literacy rate the higher the standard of living.

A ration is a fixed amount of a product or service allowed during times of shortage.

Creation, maintenance, & expansion of businesses outside the control of the government.

The required amount of a specific good that must be produced in a given timeframe.

Which NAFTA country would represent the letter C in the continuum?

The Private Sector is operated by Entrepreneurs.

Which of the following is not considered a Capital Good?

Which NAFTA country would represent the letter B in the continuum?