SS9 Economic Systems

The wealth of a country that focuses on the production and consumption of goods and services

Which factor of production includes the workers necessitated to produce goods and services?

The consumption of goods and services more than one’s basic needs, usually in large quantities

Decentralization is...

Which economic system places focus on individualism and self-interest?

______ is about what’s best for society as a whole. Worldviews differ on how best to achieve it

The way a society organizes the production, distribution and consumption of goods and services

Which economic system sits to the left with more government involvement and is centralized?

A situation in which a single company owns all of the market for a given type of product.

When the supply of a product can meet the demand for a product at a particular price this is..

Which of the following is NOT a characteristic of a public sector enterprise?

____________ is owned managed and controlled by the central government or any local authority.

This industry allows consumers to get and use a finished good. Workers provide services.

Which of the following is considered an example of a primary industry?

Which of the following is NOT considered a need?

The study of the production, and distribution of goods and services is..

___ can pressure employers about wages, working hours and workplace safety

Centralization is...

Which of the following is NOT an advantage of competition?

which of the following is considered a secondary industry?

This industry involves intellectual services like research, development and information

____ is a marketing technique that creates the idea that the product is rare or hard to create.

A company owned by Canada’s government to provide products and services to Canadians is a

Which economic system shows the existence of a market system under a central government?

which of the following is NOT a factor of production?