Canada's position on the economic continuum shifts between which two types of economies?

Mixed economy and market economy

Which of the following statements is incorrect?

The US has no laws prohibiting false advertising.

The price of a product goes up. What happens to demand and supply?

Demand goes down, supply goes up.

What does the economic theory of consumerism state?

The more consumers spend, the better it is for the economy.

How will equilibrium be restored?

Over time, supply, demand and price will become stable.

What is a monopoly in regards to economics?

One producer controls all supply of a product or service

What is a labour union?

Organization of workers that acts to protect workers rights.

When consumers stop buying a product to promote change.

studbud

Grade 9 Chapter 6 Social

24 termsStudBud Administration830 plays

Social Review Chapter 6

Flashcards24 cardsFPractice quizPHost liveL

Questions 24

Answers

1
What type of economy does Canada have?
Free Market Economy
Mixed Economy
None of the above
Planned Economy
2
The study of the production, distribution and consumption of good and services is called...
Economy
Economics
None of the above
Economic system
3
Canada's position on the economic continuum shifts between which two types of economies?
Planned economy and publicly owned economy.
Mixed economy and market economy
Planned economy and mixed.
It does not shift at all.
4
Which of the following relies mostly on choices of the individual to solve scarcity?
Planned Economy
Mixed Economy
Communist Economy
Market Economy
5
Which of the following statements is incorrect?
The US has no laws prohibiting false advertising.
It is important to think critically about what ads say.
Advertising tries to influence consumer behavior.
Canada's Competition Act makes rules concerning advertising.
6
If the supply of a product goes up, price goes down. What happens to demand?
A state of equilibrium is reached.
Demand goes down
Demand stays the same
Demand goes up
7
What marketing technique is this ad using?
Plain Folks Appeal
Scientific Appeal
Bandwagon Effect
Glittering Generalities
8
What marketing technique is this ad using?
Emotional Appeal
Scientific Appeal
Bandwagon Effect
Glittering Generalities
9
What type of economy does the government make decisions about how to solve scarcity?
Market Economy
Planned Economy
Communist Economy
Mixed Economy
10
Which marketing technique promises everything from their product but deliver little or nothing?
Testimonials
Plain Folks Appeal
Bandwagon Effect
Glittering Generalities
11
If demand for a product goes up, and supply goes down, what will happen to price?
None of the above
It will stay the same
It will go down
It will go up
12
The price of a product goes up. What happens to demand and supply?
Demand goes up, supply goes up.
Demand goes down, supply goes down.
Demand goes down, supply goes up.
Demand goes up, supply goes down.
13
Which of the following is NOT a 'factor of production'?
Land
Capital
Freedom
Labour
14
What marketing technique is this ad using?
Plain Folks Appeal
Bandwagon Effect
Emotional Appeal
Testimonial
15
Which city adopted new regulations of trans-fats?
Edmonton
Toronto
Athabasca
Calgary
16
All of the following professions can go on strike EXCEPT:
Teachers
Cashiers
Nurses
Garbage collectors
17
_______________ tries to influence the decisions people make about what to buy.
Environment
Schools
Marketing
Boycotting
18
What does the economic theory of consumerism state?
The more a consumer spends, the higher the quality of life.
The more consumers spend, the better it is for the economy.
The higher the unemployment rate, the better for the economy
The less consumers spend, the better it is for the economy.
19
How will equilibrium be restored?
When there is little or no demand for a product.
When the suppliers run out of a product.
It won't ever reach a state of equilibrium.
Over time, supply, demand and price will become stable.
20
Which of the following is a way the government will encourage consumer spending?
Giving extra money to the people
All of the above
Creating more jobs
Tax Breaks
21
What is a monopoly in regards to economics?
Rivalry among producers to sell products to customers.
One producer controls all supply of a product or service
What is best for society as a whole.
A board game.
22
What is a labour union?
Organization of workers that acts to protect workers rights.
The company in charge of labour.
None of the above.
Negotiating as a group.
23
What did the Edmonton School Board ban from selling in their schools?
Coffee
Junk Food
School Supplies
Hats
24
What is a boycott?
When workers choose to stop working to fight for rights
When the economy is in a financial emergency.
A group of workers that can go on strike.
When consumers stop buying a product to promote change.

Grade 9 Chapter 6 Social Flashcards | StudBud