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Social Studies 9 Chapter 6 Flashcards | StudBud
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Social Studies 9 Chapter 6
Social Studies 9 Chapter 6
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To what extent do different economic systems affect quality of life?
Flashcards
32 cards
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Questions
32
Answers
1
The principle of the US economy is...
You only live once
Life, liberty and the pursuit of happiness
Live, laugh, love
The pursuit of dreams and desires
2
T/F: When the supply of a product goes up, prices go down and demand goes down.
True
False
3
General well-being of individuals & societies / outlining positives & negatives of life is ...
Quality of Life
Public Good
Quality of a Society
Public Life
4
T/F: Canada's position on the economic continuum shifts depending on the pol. party in power
True
False
5
What are the three basic 'factors of production'?
Market, Media, Consumerism
Services, Sales, Workers
Land, Labour, Capital
Compensation, Collective Needs, Labour
6
T/F: An economic system is the way a society organizes prod., distr., consum. of goods/services
True
False
7
P.O.G.G stands for...
Privately Owned Great Goods
Publically Owned Great Goods
Peace, Order and Good Gov't
Peace, Order and General Goods
8
A part of the economy controlled and owned by businesses and individuals is considered to be...
Privately owned
Communally owned
Publicly owned
Government owned
9
What is scarcity?
the idea that goods and services should be restricted
the idea that land, labour and capital limit wants and needs
the idea that products will run out
the idea that resources are disposable
10
The type of economy that is exercised and practiced in Canada is a...
market
traditional
mixed
planned
11
T/F: When the supply of a product goes up, prices go down, and demand increases.
False
True
12
An economy where individuals make decisions on how to use resources...
mixed
traditional
market
planned
13
An economy where individuals and the gov't make decisions about production...
market
planned
mixed
traditional
14
In economics, rivalry among producers to sell products to consumers is known as...
Competence
Competition
Condition
Contention
15
An economy where individual consumers drive the economic decision making...
mixed
traditional
planned
market
16
An economy where resources are both publicly and privately owned is a...
traditional
mixed
mixed
planned
17
T/F: Planned economies are characterized by little government involvement
False
True
18
T/F: Market economies are characterized by more involvement from individuals.
Fasle
True
19
An economy where individuals and gov't influence economic decision making is a...
mixed
market
traditional
planned
20
The type of economy that is exercised and practiced in the USA is a...
market
planned
mixed
traditional
21
The part of the economy owned and controlled by the gov't and paid for by taxes is said to be
Communally shared
Privately controlled
Publicly owned
Privately owned
22
An economy where individuals have little say in economic decision making is a...
market
mixed
planned
traditional
23
The general idea behind 'Peace, Order and Good Governmemt' is best described as...
Love
Politics
Cooperation
Business
24
An economy where the gov't makes decisions on how to use resources is a...
planned
mixed
traditional
market
25
T/F: When demand for a product goes up, supply goes up.
False
True
26
T/F: You have already started to study for the quiz?
False
True
27
T/F: When the price of a product goes up, demand goes up.
False
True
28
T/F: Mixed economies are characterized by a mix of individual and gov't decision making.
True
False
29
An economy where resources are publicly owned is a...
traditional
planned
market
mixed
30
T/F: When the price of a product goes up, demand goes down and supply increases.
True
False
31
An economy where resources are privately owned is a...
market
mixed
traditional
planned
32
T/F: When demand goes up, supply goes down and prices go up.
False
True
