NEW
Font size
WorksheetsSS 9 - Chapter 6 review
Total questions: 20
Worksheet time: 10mins
When producing goods, the producer combines the factors of production,the best example for this is;
Farm hand, farmer, tractor
Forestry services, tree planters, shovel
Fishing boats, ocean, fish
Tar sands, migrant workers, rock trucks
In this economy, you sometimes have to wait longer to see a doctor because anyone can afford a doctor.
Command
Market
Mixed
Democrat
In this economy the government makes all the economic decisions
Command
Market
Mixed
Republican
Labour unions provide a voice for workers and collectives. Which statement reflects the viewpoint of a labour union?
Unions make demands that are bad for the economy.
Unions must seek government help and support when responding to workers issues
Do not respect the workers
Protect the worker and try to make everyone happy
Economic systems exist to manage the problem of
Too many resources
Too few resources (scarcity)
People do not know what to do with their money
Communism
Which value most supports a mixed economy:
Independence
Cooperation
Free Spirit
Control
Which economy would have the least amount of government spending?
Mixed
Command
Socialism
Market
What is the opposite of competition?
Supply
Demand
Monopoly
Equilibrium
If supply goes down and demand goes up then...
Prices go down
Prices stay the same
Prices reach equilibrium
Prices go up
What is the difference between “quality of life and standard of living?
QL is reflected by your income whereas SL may by determined by the size of your home
QL may be determined by the quality of health care provided in your community whereas SL may be determined by the income of your family.
QL by the quality of air you breath and SL by the amount of recycling your family does.
QL by the quality of social programs your have and SL by the number of social programs you have.
Why are health care, education and postal services funded by the government? Choose the best answer.
Government believes the product is too expensive for an individual business
Government believes they can profit
Government wants to ensure quality of product
Government is more concerned about self than the people in the county
What are the three economic questions each country's economy must answer?
When to produce, how to produce, where to produce
How to produce, for whom to produce, when to produce
What goods are to be produced, how to produce them, who gets them
What goods are to be produced, how to produce them, where to produce
“I believe that the government has a goal to provide essential services in the economy although I do not believe the government should stray too far from the spirit of free enterprise.” This individual prefers...
A mixed economy
A command economy
A market economy
A shift from command to mixed economy
Supply and demand impact quality of life because of their effect on
What products we buy and unemployment rates
Imports and exports
Prices of products, availability of products and the jobs connected to creating the product
Monopoly versus competition
Increased government spending is greater in a
Market economy
Private business
Mixed economy
Free enterprise
As a result of labour unions in Canada
Workers receive equal pay
Workers have not improved their rights
Quality of life has decreased
Government has introduced labour laws that protect workers
If there is a large supply of oil and a small demand for for oil what should happen to the price for gas at the pump?
The price goes up
The price goes down
The price stays the same
The price is pre-set
What should occur when demand for a product goes up?
The supply goes up, and the price goes down
The supply goes down, and the price goes up.
The supply does not meet demand, and equilibrium is achieved
The supply goes up, and the price goes up
In 2009, the US provided bailouts to car companies and banks. This was evidence of what type of shift in government?
Shift right
Shift left
Shift up
Shift down
Telus has been the major telephone service in the province for years. Then Shaw cable entered the market and also provided telephone service. This brought lower prices. This is an example of:
Supply and demand
Consumer behaviour
Monopoly vs. Competition
Marketing
