Canadian Economy Quizizz

Which term is used to refer to a country focusing on producing a relatively small number of goods or services based on what the country can produce most efficiently?

• entrepreneurship

• specialization

• competition

• opportunity cost

Why does the Canadian government invest in human capital?

• because such investments improve economic growth

• because Canada's population is rapidly growing

• because such investments limit foreign imports

• because Canada's standard of living is very low

An insurance company based in Toronto, Canada, wants to improve its efficiency. To do so, company leadership decides to buy new computers with updated programs. What did the company do?

• It encouraged employees to improve their human capital.

• It encouraged employees to show entrepreneurship.

• It invested in new types of natural resources.

• It invested in improving its capital goods

Which statement would MOST LIKELY be true in market economy?

• Business owners decide what goods to produce and at what price to sell them.

• . The government provides employment and necessary resources for its people

• Economic production decisions are made by a small council of experts.

• Most people enter the same field of employment as their ancestors.

Why do investments in capital goods encourage economic growth?

• Greater skills and knowledge among workers increases access to valuable natural resources.

• Greater skills and knowledge among workers improves the quality of the goods they produce

• A. Better tools and technology improve the efficiency of production

• Better tools and technology increase prices for consumer goods

Tommy has started his own coffee shop in Alberta. He invested his own money and took out loans to open the shot. What is Tommy?

• An entrepreneur

• A president

• a member of parliament

• A capital resource

The leader of the Parliament in countries such as Australia, Canada, and the United Kingdom is called the

• speaker.

• chairman.

• prime minister.

• president.

Under which economic system would factors of production MOST LIKELY be owned by the government?

• command economy

• traditional economy

• mixed economy

• market economy

Which of these BEST describes an investment in human capital?

• limiting on-the-job training

• increase sales tax

• . improving access to public libraries

• decreasing sales taxes

Which is an example of one of Canada’s natural resource?

• on the job training

• industrial buildings

• trees

• highways