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WorksheetsManufacturing and Resource Development Quiz
Total questions: 20
Worksheet time: 21mins
What are tariffs?
Food rations
A tax on imported goods
A tax on exported goods
A tax on services
Why are many consumer products expensive to make in Canada?
Other countries have cheaper labour
Canadians prefer Imported products
Canada has too many tariffs
Other countries have a higher population
What does NIMBY stand for?
Numbers Increasing Monthly By Year
Numerous Intersections Made Bequest You
No In-sector Markups By Youth
Not In My Back Yard
What is the Dutch disease?
A disease spread to the dutch to weaken their economy
The negative effects of a large increase in a countries currency
A sudden lack of competitive advantage in a country
A highly increased flow of imports in a country
What is an import?
A country selling goods to another country
A country receiving goods from another country
A company buying goods within itself
A company selling goods within itself
What is an export?
A country selling goods to another country
A country receiving goods from another country
A company buying goods within itself
A company selling goods within itself
What is Canada's most valuable export?
Consumer products
Motor vehicles and parts
Forestry products
Energy products
What is a economic cycle?
The downward and upward movement of gross domestic product over a long-term growth trend
The cycle in which a economy spirals out of control until it has fallen
The economy turning from bad to good
The economy turning from good to bad
What is Free Trade?
Trading without the use of modern currency
A law prohibiting the trade of black market goods
The trading of different international currencies
International trade without barriers such as tariffs
What is comparative advantage?
A company overpowering another by better quality and cheaper goods and/or services
Analysts comparing companies and businesses to estimate future economy changes
A situation in which a country is better off focusing its efforts in fields where it is more competitive
Comparing the success of imported versus exported goods in an economy
What is a negative factor in deciding where industrial sectors form?
Lots of consumers
High business taxes
Cold weather
Environmentalists
What are some positives factors in the construction of a manufacturing factory?
Location is isolated
Location is in the arctic
Location is close to the natural resources
Location is close to major railways
Why is the automotive industry strong in southern Ontario?
We have many transportation venues
We have an abundance of workers
We are close to the U.S.A
All of the above
What industry sector is mostly involved with manufacturing?
Primary
Tertiary
Secondary
Quaternary
If a government has removed tariffs, what type of good is a consumer most likely to purchase? How will this affect local small businesses?
Imported goods; local small businesses will benefit
Imported goods; local small businesses will suffer
Local goods; local small businesses will suffer
Local goods; local small businesses will benefit
How does NIMBY affect companies looking to build factories or plants near civilizations?
They should ignore communities and build near towns and cities because of their convenient locations
They should acknowledge towns and cities and build as far away from them as they are able to
They should build near towns and cities because the people in those communities need jobs
They shouldn't build anything at all if it could affect any amount of people
If you are a small company in Canada looking to sell local goods, if the government were to removes tariffs for the same type of goods you produce, how could you increase your competitive advantage?
Sell your stock at a far cheaper price
Sue all of your competition
Market your goods as something unique that you couldn't get from imports (i.e, traditional Inuit hand-made carvings)
Copy other successful businesses and hope to make a return
What industry sector is most involved with Agriculture, forestry, fishing, mining, quarrying, and oil and gas?
Primary
Quaternary
Secondary
Tertiary
If you are a company, what would you want to be paying attention to?
Change in tariffs
the demand for goods and services
Economic cycles
All of the above
What does this image represent?
Dutch disease
Comparative advantage
Economic cycles
The primary industry
