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Social 9 - Economics Review Flashcards | StudBud
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Social 9 - Economics Review
Social 9 - Economics Review
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A Social Studies Review Tool created for Economics in Social 9.
Flashcards
40 cards
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Practice quiz
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Questions
40
Answers
1
What is the definition of Collective Bargaining?
A type of organization that protects rights of workers
A cessation of work by workers
Special set of rights given to economic immigrants
Negotiation of wages and other conditions of workers
2
In Canada, government-owned corporations were formed in order to...
supply services not provided by private enterprise
promote competition in foreign countries
prevent large corporations from laying off workers
encourate foreign investment in the economy
3
1. Which of these is
not
one of the three factors of production?
Land
Economics
Capital
Labour
4
This type of economy is often related to communism and socialism.
Mixed
Market
Planned
Traditional
5
Which economic system more strongly values everyone sharing equally?
Planned
Market
Traditional
Mixed
6
Which of these countries is considered to be a
command/planned economy
?
Cuba
North Korea
Canada
United States
7
Which of the following would most likely
increase
the price of an item in a market economy?
Decreased supply
Decreased demand
Increased demand
Increased supply
8
Which economic system places more value on collectivism?
Planned
Traditional
Mixed
Market
9
A government decision to fund film and media arts in their country is an example of:
A shift to the right
an increase in Canadian made content
a reduction of Canadian made content
A shift to the left
10
When the supply of a product or service goes up, what happens?
Prices decrease to encourage spending
Demand increases
Demand decreases
Prices increase to discourage spending
11
In this type of economy, the government makes all decisions about production and consumption.
Planned
Market
Traditional
Mixed
12
In economics, what does it mean to "shift left?"
To decrease government involvement in economy
... To the left everything you own in a box to the left?
To increase government involvement in economy
To kill everyone who disagrees with the government
13
Which economic system places more value on individualism?
Traditional
Mixed
Market
Planned
14
In which economic system do its citizens tend to pay fewer taxes?
Market
No taxation without representation!
Planned
Mixed
15
In which economic system do governments tend to have
some
control over resources?
Mixed
Traditional
Market
Planned
16
The following picture is an example of which factor of production?
Labour
Capital
Land
None of the Above
17
I'm going to decrease your taxes but also decrease funding of public healthcare. This is a...
stop in the middle
none of the above
shift right
shift left
18
The founding principle of Canada's economy is ...
"Life, liberty and the pursuit of happiness"
"O Canada"
"Peace, order and good government"
"We're all in this together"
19
A mixed economist would argue that the best way to achieve public good is through...
private and publicly owned business
privately owned businesses
publicly owned businesses
complete government intervention
20
This type of economy features both private and public control of production and consumption.
Market
Planned
Traditional
Mixed
21
The following picture is an example of which factor of production?
Capital
Labour
Land
None of the above
22
A shift to the
right
is
commonly
associated with movement towards what type of economic system?
Planned
Mixed
Traditional
Market
23
The images below best illustrates which of the following concepts related to economics?
Labour
Economic Systems
Scarcity
Crown Corporations
24
When demand goes up for a good or service, what happens?
Supply decreases
Supply increases
Price increases
Price decreases
25
Which of the following terms correctly completes the definition of the term "economy"?
Development
Distribution
Exploration
Creation
26
When one producer controls all the supply of a product or a service, this is called ....
economics
consumerism
a monopoly
competition
27
According to the source below, what is a disadvantage of unions?
lessens the quality of life for workers
provides worse working conditions for workers
can harm business in a country
unions give workers less power
28
Which type of economy is most often related to Canada?
Planned
Mixed
Command
Market
29
This type of economy is often called capitalist.
Traditional
Market
Mixed
Planned
30
What role do consumers
primarily
play in an economic system?
Consumers vote on laws to regulate labour unions
Consumers use the products and services a society creates
Consumers make the products and services for a society
Consumers advocate for change in a society
31
The founding principle of the U.S. economy is...
"Land of the free and home of the brave"
"Individual might can succeed"
"Life, liberty and the pursuit of happiness"
"Peace, order and good government"
32
Which economic system has the
least
inequality?
Market
Planned
Mixed
Traditional
33
Which of the following is
not
a reason a government may choose to intervene in a market economy
To encourage recycling and sustainability
To inform consumers and ensure good practices
To reduce the liberties of consumers
To ensure consumers are being treated fairly
34
What is the goal of a Labour Union?
Making decisions as a government to put decisions in action
An organization of workers that act to protect workers right
An organization of workers who create products
An agreement by a company to pay for equipment for workers
35
The Winnipeg General Strike in 1919 resulted in which of the following:
The death of one striker and 29 injured
The Russian Revolution in 1920
A complete shutdown of the city of Winnipeg
Government intervention over fears of workers' unions
36
Which of the following is
not
one of the basic questions of how to solve scarcity in a society?
What is needed or wanted?
Who will get it?
Why should we produce?
How will it get produced?
37
Which of these is an example of "shifting right?"
American "Obamacare" in the 2010s
Canada selling off Crown corporations in the 1980s
Canada introducing public healthcare in the 1960s
U.S. President Roosevelt's "New Deal" of the 1930s
38
What is scarcity?
A shortage of goods and services
The study of goods and services
A city lacking basic needs
Capital invested into a project
39
Traditionally, which Canadian political party has been the most "left" economically?
Liberal
New Democratic
Conservative
Bloc Quebecois
40
A shift to the
left
is
commonly
associated with movement towards which type of economic system?
Market
Mixed
Planned
Traditional
