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Duplicate of SOC 9 - Chapter 6 Economic Systems Flashcards | StudBud
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Duplicate of SOC 9 - Chapter 6 Economic Systems
Duplicate of SOC 9 - Chapter 6 Economic Systems
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1
The United States has a ___________ economy.
Market
Public
Mixed
Planned
2
A refusal of work by workers in order to put pressure on employer
labour freeze
strike
workplace freeze
workmen's compensation
3
China has a _________ economy.
Private
Market
Planned
Mixed
4
The study of production, distribution and consumption of goods and services...
economic system
economics
economy
5
Liberals are
Right of center
Left of center
6
The part of the economy that is owned and controlled by businesses and individuals...
publicly owned
privately owned
conservative controlled
government owned
7
What happens when the demand goes up and the supply goes down?
Price goes up
Equilibrium
Price goes down
8
Canada's economic system is based on the belief that the what is good for society is about
individuals considering each other and working cooperatively
what is best for individuals will be what's best for all
9
A shift on the economic spectrum towards less government involvement...
Shift LEFT
Shift RIGHT
10
In this type of economy, government makes ALL decisions about resources and managing scarcity.
Mixed
Market
Public
Planned
11
Which of the following is NOT a reason for creating a crown corporation?
to increase tax revenue
provide essential services
promote economic development
support Canadian culture and identity
12
"The public good" is about what is good for
government and leadership
spending of tax money
the individual citizen
society as a whole
13
The choices of individuals solve scarcity. Private businesses own and manage resources.
Public economy
Mixed economy
Market economy
Planned economy
14
Canada and USA economies both strive to answer the following questions...WHAT IS THE BEST WAY
to meet the demands of the economy?
to meet the needs of the most productive citizens?
to ensure a wealthy and prosperous country
to achieve the common good?
15
True or False: Canada's gov sometimes becomes involved in economy in order to preserve culture.
True
False
16
The way a society organizes the production, distribution and consumption of goods / services...
economy
economic system
economics
17
In this economy, private ownership and government control are balanced.
Mixed
Market
Planned
Privatized
18
Those who use products and services
suppliers
consumers
economists
demanders
19
What is a Crown Corporation? A corporation owned and operated by the
monarchy
private sector
government
people
20
The products and services created by producers
supply
demand
capital
produce
21
Canada has a __________ economy.
Market
Public
Mixed
Planned
22
Conservatives are
Left of center
Right of center
23
The part of the economy that is controlled by government and paid for by taxes...
conservative controlled
publicly owned
privatized economy
privately owned
24
A shift on the economic spectrum towards more government involvedment...
Shift RIGHT
Shift LEFT
25
The percentage of the workforce that does not have jobs is referred to as the
workforce employment rate
employment rate
unemployment rate
unfilled rate of pay
26
If the supply goes up and the price goes down, what happens to the demand?
Equilibrium
Up
Down
27
The idea that land/labour/capital limit the supply. Not enough for everyone to get it free.
Supply
Economics
Demand
Scarcity
