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